DnB Asset Management AS Has $4.41 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

DnB Asset Management AS cut its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 0.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,203 shares of the company’s stock after selling 174 shares during the period. DnB Asset Management AS’s holdings in Principal Financial Group were worth $4,414,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Steward Financial Group LLC acquired a new position in shares of Principal Financial Group in the fourth quarter valued at about $29,000. GPS Wealth Strategies Group LLC acquired a new stake in Principal Financial Group during the first quarter worth about $28,000. ICA Group Wealth Management LLC grew its stake in Principal Financial Group by 100.0% during the first quarter. ICA Group Wealth Management LLC now owns 400 shares of the company’s stock worth $30,000 after buying an additional 200 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in Principal Financial Group during the first quarter worth about $32,000. Finally, Clear Street Markets LLC grew its stake 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. 70.68% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

NYSE:PFG opened at $76.95 on Monday. The company has a fifty day moving average of $77.99 and a 200-day moving average of $73.95. The firm has a market capitalization of $18.60 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.61 and a beta of 1.31. 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 twelve month low of $65.17 and a twelve month high of $96.17.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, July 27th. The company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.13). Principal Financial Group had a net margin of 11.52% and a return on equity of 15.85%. The company had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.49 billion. As a group, sell-side analysts anticipate that Principal Financial Group, Inc. will post 6.47 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 7th will be given a $0.65 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $2.60 annualized dividend and a yield of 3.38%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.64. Principal Financial Group’s dividend payout ratio (DPR) is presently 40.19%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PFG. Jefferies Financial Group reduced their price target on shares of Principal Financial Group from $69.00 to $66.00 and set a “hold” rating on the stock in a research note on Thursday. Barclays reduced their price target on shares of Principal Financial Group from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Monday, July 31st. 3M reiterated an “upgrade” rating on shares of Principal Financial Group in a report on Friday, June 9th. StockNews.com upgraded shares of Principal Financial Group from a “sell” rating to a “hold” rating in a report on Friday, September 8th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $70.00 price objective on shares of Principal Financial Group in a report on Wednesday, August 2nd. Five research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.54.

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