Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. decreased its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 6.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 33,739 shares of the company’s stock after selling 2,351 shares during the period. Advisors Asset Management Inc.’s holdings in Principal Financial Group were worth $2,898,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. EdgeRock Capital LLC purchased a new position in shares of Principal Financial Group in the 2nd quarter valued at about $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $32,000. Family Firm Inc. acquired a new stake in Principal Financial Group during the 2nd quarter worth $33,000. Peterson Financial Group Inc. purchased a new stake in shares of Principal Financial Group in the 3rd quarter valued at about $33,000. Finally, Innealta Capital LLC purchased a new stake in Principal Financial Group in the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Up 1.2 %

Shares of NYSE PFG opened at $85.73 on Friday. Principal Financial Group, Inc. has a 1 year low of $71.39 and a 1 year high of $91.97. The stock’s 50-day simple moving average is $86.12 and its 200-day simple moving average is $82.35. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market cap of $19.61 billion, a price-to-earnings ratio of -95.25, a PEG ratio of 0.99 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last released 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). The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $1.72 earnings per share. As a group, equities 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.73 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.92 annualized dividend and a dividend yield of 3.41%. Principal Financial Group’s dividend payout ratio (DPR) is presently -320.00%.

Analyst Ratings Changes

PFG has been the subject of a number of recent research reports. Keefe, Bruyette & Woods decreased their price objective on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. Wells Fargo & Company upped their price target on Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Morgan Stanley lowered their target price on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Bank of America dropped their price objective on shares of 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. Finally, Barclays upped their price objective on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Two equities research 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $85.92.

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.