Mutual of America Capital Management LLC Reduces Position in Principal Financial Group, Inc. (NYSE:PFG)

Mutual of America Capital Management LLC lessened its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,472 shares of the company’s stock after selling 737 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Principal Financial Group were worth $2,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC lifted its stake in shares of Principal Financial Group by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company’s stock valued at $422,074,000 after buying an additional 52,410 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Principal Financial Group by 9.8% during the 4th quarter. Northern Trust Corp now owns 3,662,918 shares of the company’s stock valued at $283,546,000 after buying an additional 326,604 shares in the last quarter. Norges Bank purchased a new position in shares of Principal Financial Group during the 4th quarter valued at $217,021,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Principal Financial Group by 12.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,246 shares of the company’s stock valued at $145,318,000 after buying an additional 209,885 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Principal Financial Group by 73.5% during the 4th quarter. Deutsche Bank AG now owns 1,482,053 shares of the company’s stock valued at $114,726,000 after buying an additional 627,865 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PFG. Barclays lifted their price target on shares of Principal Financial Group from $76.00 to $80.00 and gave the company an “underweight” rating in a report on Monday, July 7th. Keefe, Bruyette & Woods lifted their price target on shares of Principal Financial Group from $87.00 to $90.00 and gave the company a “market perform” rating in a report on Wednesday, July 9th. UBS Group reduced their price target on shares of Principal Financial Group from $93.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Morgan Stanley restated an “underweight” rating and issued a $75.00 target price (up from $71.00) on shares of Principal Financial Group in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Principal Financial Group from $92.00 to $101.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $84.82.

Principal Financial Group Price Performance

Shares of PFG opened at $81.06 on Friday. The company has a 50 day moving average price of $78.76 and a 200-day moving average price of $79.84. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.98. The stock has a market capitalization of $18.17 billion, a PE ratio of 12.13, a PEG ratio of 0.76 and a beta of 0.99. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Monday, April 28th. The company reported $1.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter last year, the business posted $1.65 EPS. Equities analysts predict that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 2nd were paid a $0.76 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.75%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.75. Principal Financial Group’s dividend payout ratio is presently 65.10%.

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.