Acropolis Investment Management LLC Sells 317 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Acropolis Investment Management LLC reduced its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 12.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,235 shares of the company’s stock after selling 317 shares during the quarter. Acropolis Investment Management LLC’s holdings in Principal Financial Group were worth $173,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Massachusetts Financial Services Co. MA bought a new position in shares of Principal Financial Group in the second quarter worth about $19,698,000. Bank of Montreal Can increased its position in Principal Financial Group by 41.0% during the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after purchasing an additional 146,473 shares in the last quarter. Mizuho Securities USA LLC lifted its stake in Principal Financial Group by 818.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock valued at $13,112,000 after purchasing an additional 136,021 shares during the last quarter. International Assets Investment Management LLC boosted its position in Principal Financial Group by 6,593.7% in the third quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock valued at $11,356,000 after buying an additional 130,225 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Principal Financial Group by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock worth $211,534,000 after buying an additional 118,722 shares during the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Price Performance

PFG stock opened at $80.08 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The firm has a market cap of $18.32 billion, a price-to-earnings ratio of -88.98, a PEG ratio of 0.92 and a beta of 1.22. The company’s fifty day simple moving average is $81.64 and its 200 day simple moving average is $82.16. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the company earned $1.72 EPS. On average, analysts expect that Principal Financial Group, Inc. will post 7.03 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a dividend of $0.73 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date was Monday, December 2nd. This represents a $2.92 annualized dividend and a dividend yield of 3.65%. Principal Financial Group’s dividend payout ratio (DPR) is -324.44%.

Wall Street Analyst Weigh In

PFG has been the subject of a number of research reports. Piper Sandler upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price target for the company in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods cut their price target on Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company lowered their price objective on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a research note on Tuesday. Barclays lifted their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Finally, Morgan Stanley restated an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $84.25.

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.