UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $143.23 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,667,361 shares of the company’s stock after selling 11,982 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.73% of Principal Financial Group worth $143,226,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EdgeRock Capital LLC acquired a new stake in Principal Financial Group in the 2nd quarter valued at $26,000. Strategic Financial Concepts LLC bought a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $32,000. Family Firm Inc. acquired a new stake in shares of Principal Financial Group in the 2nd quarter valued at approximately $33,000. Peterson Financial Group Inc. bought a new position in shares of Principal Financial Group in the third quarter valued at $33,000. Finally, Innealta Capital LLC acquired a new position in Principal Financial Group during the second quarter worth $43,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Piper Sandler upped their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Morgan Stanley cut their price objective on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Barclays boosted their target price on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Wells Fargo & Company raised their price target on Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada upped their price objective on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $85.92.

Principal Financial Group Trading Down 0.2 %

Shares of PFG stock opened at $87.09 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $19.92 billion, a price-to-earnings ratio of -96.77, a PEG ratio of 1.01 and a beta of 1.20. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.97. The company has a 50-day simple moving average of $86.41 and a two-hundred day simple moving average of $82.45.

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same quarter in the previous year, the firm earned $1.72 earnings per share. Research analysts anticipate that Principal Financial Group, Inc. will post 7.04 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.73 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a yield of 3.35%. Principal Financial Group’s dividend payout ratio is -324.44%.

Principal Financial Group Company Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.