CHICAGO TRUST Co NA Sells 2,500 Shares of Principal Financial Group, Inc. (NASDAQ:PFG)

Posted by Defense World Staff on Mar 22nd, 2023

CHICAGO TRUST Co NA lowered its position in shares of Principal Financial Group, Inc. (NASDAQ:PFG – Get Rating) by 49.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,600 shares of the company’s stock after selling 2,500 shares during the period. CHICAGO TRUST Co NA’s holdings in Principal Financial Group were worth $218,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pathstone Family Office LLC lifted its holdings in Principal Financial Group by 1.1% during the 3rd quarter. Pathstone Family Office LLC now owns 10,884 shares of the company’s stock worth $785,000 after buying an additional 122 shares during the period. CAPROCK Group Inc. lifted its holdings in Principal Financial Group by 4.1% during the 3rd quarter. CAPROCK Group Inc. now owns 3,645 shares of the company’s stock worth $263,000 after buying an additional 143 shares during the period. Keybank National Association OH lifted its holdings in Principal Financial Group by 4.6% during the 3rd quarter. Keybank National Association OH now owns 3,556 shares of the company’s stock worth $257,000 after buying an additional 157 shares during the period. Archford Capital Strategies LLC lifted its holdings in Principal Financial Group by 2.9% during the 3rd quarter. Archford Capital Strategies LLC now owns 6,241 shares of the company’s stock worth $450,000 after buying an additional 178 shares during the period. Finally, Kinneret Advisory LLC lifted its holdings in Principal Financial Group by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 8,377 shares of the company’s stock worth $615,000 after buying an additional 187 shares during the period. Institutional investors own 74.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Principal Financial Group from $61.00 to $71.00 and gave the company a “sell” rating in a research note on Monday, January 9th. Credit Suisse Group downgraded Principal Financial Group from a “neutral” rating to an “underperform” rating and set a $86.00 price objective on the stock. in a research note on Thursday, December 8th. Morgan Stanley boosted their price objective on Principal Financial Group from $76.00 to $77.00 and gave the company an “underweight” rating in a research note on Friday, February 24th. JPMorgan Chase & Co. boosted their price objective on Principal Financial Group from $72.00 to $78.00 and gave the company an “underweight” rating in a research note on Friday, January 6th. Finally, Barclays boosted their price objective on Principal Financial Group from $89.00 to $92.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 1st. Eight analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $78.64.

Principal Financial Group Stock Performance

Shares of PFG opened at $75.14 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a 50 day moving average price of $86.88 and a two-hundred day moving average price of $85.07. The firm has a market capitalization of $18.27 billion, a P/E ratio of 3.99, a P/E/G ratio of 1.23 and a beta of 1.30. Principal Financial Group, Inc. has a 52 week low of $61.05 and a 52 week high of $96.17.

Principal Financial Group (NASDAQ:PFG – Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.16. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.33 billion. Principal Financial Group had a return on equity of 15.98% and a net margin of 27.51%. During the same period in the previous year, the company posted $1.85 EPS. Equities analysts forecast that Principal Financial Group, Inc. will post 6.88 earnings per share for the current fiscal year.

Principal Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Tuesday, March 14th. Principal Financial Group’s dividend payout ratio is currently 13.60%.

About Principal Financial Group

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Principal Financial Group, Inc engages in the investment management offering business. It offers financial products and services to businesses, individuals, and institutional clients. It operates its business through following segments: Retirement and Income Solutions, Principal Global Investors, Principal International, U.S.

Institutional Ownership by Quarter for Principal Financial Group (NASDAQ:PFG)

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