Arjuna Capital Sells 699 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Arjuna Capital decreased its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 0.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 85,785 shares of the company’s stock after selling 699 shares during the quarter. Principal Financial Group accounts for 1.9% of Arjuna Capital’s investment portfolio, making the stock its 12th biggest holding. Arjuna Capital’s holdings in Principal Financial Group were worth $7,369,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PFG. EdgeRock Capital LLC purchased a new position in Principal Financial Group in the 2nd quarter valued at approximately $26,000. Family Firm Inc. bought a new stake in Principal Financial Group in the second quarter worth $33,000. Innealta Capital LLC purchased a new position in shares of Principal Financial Group in the second quarter valued at about $43,000. Capital Performance Advisors LLP purchased a new position in shares of Principal Financial Group in the third quarter valued at about $50,000. Finally, MCF Advisors LLC increased its position in shares of Principal Financial Group by 55.6% during the second quarter. MCF Advisors LLC now owns 613 shares of the company’s stock valued at $48,000 after buying an additional 219 shares during the period. Institutional investors own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Bank of America dropped their price objective on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Jefferies Financial Group increased their price objective on shares of Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Royal Bank of Canada upped their target price on shares of Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Wells Fargo & Company upped their target price on shares of 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, Citigroup increased their price objective on shares of Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $85.58.

Principal Financial Group Trading Up 0.3 %

Shares of Principal Financial Group stock traded up $0.24 during trading on Wednesday, hitting $87.35. The stock had a trading volume of 40,466 shares, compared to its average volume of 1,129,616. The firm’s fifty day simple moving average is $85.18 and its 200-day simple moving average is $82.09. The stock has a market cap of $19.98 billion, a PE ratio of -96.79, a PEG ratio of 1.00 and a beta of 1.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 12 month low of $70.22 and a 12 month high of $91.97.

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.26). The firm had revenue of $3.01 billion during 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 last year, the business posted $1.72 EPS. As a group, sell-side analysts expect that Principal Financial Group, Inc. will post 7.12 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 3.34%. The ex-dividend date is Monday, December 2nd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio (DPR) is currently -320.00%.

Principal Financial Group 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.