Principal Financial Group, Inc. (NYSE:PFG) Stake Lessened by Ossiam

Posted by Defense World Staff on Sep 10th, 2023

Ossiam cut its stake in Principal Financial Group, Inc. (NYSE:PFG – Free Report) by 53.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,658 shares of the company’s stock after selling 129,321 shares during the period. Ossiam’s holdings in Principal Financial Group were worth $8,298,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GPS Wealth Strategies Group LLC bought a new stake in Principal Financial Group during the first quarter worth approximately $28,000. Steward Financial Group LLC bought a new stake in Principal Financial Group during the fourth quarter worth approximately $29,000. Venturi Wealth Management LLC bought a new stake in Principal Financial Group during the first quarter worth approximately $32,000. Clear Street Markets LLC boosted its holdings in Principal Financial Group by 96.1% during the first quarter. Clear Street Markets LLC now owns 449 shares of the company’s stock worth $33,000 after buying an additional 220 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in Principal Financial Group by 78.0% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 470 shares of the company’s stock worth $35,000 after buying an additional 206 shares in the last quarter. 70.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PFG shares. Keefe, Bruyette & Woods upgraded shares of Principal Financial Group from an “underperform” rating to a “market perform” rating and reduced their target price for the stock from $77.00 to $75.00 in a report on Thursday, June 8th. Barclays reduced their price target on shares of Principal Financial Group from $78.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, July 31st. Jefferies Financial Group upgraded shares of Principal Financial Group from an “underperform” rating to a “hold” rating and upped their price target for the company from $60.00 to $65.00 in a research report on Thursday, June 22nd. StockNews.com upgraded shares of Principal Financial Group from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $83.00 price target on shares of Principal Financial Group in a research report on Monday, July 31st. Five analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $76.46.

View Our Latest Research Report on Principal Financial Group

Principal Financial Group Stock Up 0.9 %

PFG stock opened at $75.38 on Friday. The company has a market cap of $18.22 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 1.57 and a beta of 1.31. The company has a 50 day moving average of $78.61 and a two-hundred day moving average of $73.91. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.38. Principal Financial Group, Inc. has a 12-month low of $65.17 and a 12-month high of $96.17.

Principal Financial Group (NYSE:PFG – Get Free Report) last released its quarterly earnings results on Thursday, July 27th. The company reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.13). The business had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.49 billion. Principal Financial Group had a net margin of 11.52% and a return on equity of 15.85%. On average, equities analysts anticipate that Principal Financial Group, Inc. will post 6.47 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 7th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.45%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.64. Principal Financial Group’s dividend payout ratio (DPR) is currently 40.19%.

Principal Financial Group Profile

(Free Report)

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 Global Investors, Principal International, and U.S. Insurance Solutions segments.