UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stake in Principal Financial Group, Inc. (NYSE:PFG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,667,361 shares of the company’s stock after selling 11,982 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Principal Financial Group were worth $143,226,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of PFG. EdgeRock Capital LLC bought a new stake in Principal Financial Group in the 2nd quarter worth approximately $26,000. Strategic Financial Concepts LLC purchased a new position in shares of Principal Financial Group during the second quarter worth approximately $32,000. Family Firm Inc. bought a new stake in shares of Principal Financial Group in the 2nd quarter worth approximately $33,000. Peterson Financial Group Inc. purchased a new stake in shares of Principal Financial Group in the 3rd quarter valued at $33,000. Finally, Innealta Capital LLC bought a new position in shares of Principal Financial Group during the 2nd quarter valued at $43,000. Institutional investors own 75.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PFG. Bank of America lowered their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Morgan Stanley lowered 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. Wells Fargo & Company raised their target price on shares of Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Piper Sandler increased their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada lifted their price objective on Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $85.92.

Principal Financial Group Price Performance

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

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($0.26). The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same period in the prior year, the firm posted $1.72 EPS. Analysts anticipate that Principal Financial Group, Inc. will post 7.04 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 Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a dividend of $0.73 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group’s dividend payout ratio (DPR) is currently -324.44%.

About Principal Financial Group

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.