Park Avenue Securities LLC Sells 884 Shares of Principal Financial Group, Inc. $PFG

Park Avenue Securities LLC decreased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 11.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,146 shares of the company’s stock after selling 884 shares during the period. Park Avenue Securities LLC’s holdings in Principal Financial Group were worth $568,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Principal Financial Group during the 4th quarter worth approximately $7,891,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Principal Financial Group by 3.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,071 shares of the company’s stock worth $2,560,000 after purchasing an additional 1,150 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Principal Financial Group during the 1st quarter worth approximately $279,000. Versant Capital Management Inc grew its position in shares of Principal Financial Group by 470.1% during the 1st quarter. Versant Capital Management Inc now owns 1,545 shares of the company’s stock worth $130,000 after purchasing an additional 1,274 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Principal Financial Group by 11,781.7% during the 1st quarter. GAMMA Investing LLC now owns 478,715 shares of the company’s stock worth $40,389,000 after purchasing an additional 474,686 shares in the last quarter. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Price Performance

PFG stock opened at $82.62 on Monday. The company has a 50 day simple moving average of $79.64 and a 200 day simple moving average of $78.70. The stock has a market cap of $18.41 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 0.76 and a beta of 1.03. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $91.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Monday, July 28th. The company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.19. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter in the previous year, the business posted $1.63 earnings per share. Research analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Thursday, September 4th were given a dividend of $0.78 per share. The ex-dividend date was Thursday, September 4th. This represents a $3.12 dividend on an annualized basis and a yield of 3.8%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.76. Principal Financial Group’s dividend payout ratio is currently 62.78%.

Wall Street Analysts Forecast Growth

PFG has been the topic of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Principal Financial Group from $73.00 to $72.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 30th. UBS Group increased their target price on shares of Principal Financial Group from $85.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. Barclays increased their target price on shares of Principal Financial Group from $76.00 to $80.00 and gave the stock an “underweight” rating in a research report on Monday, July 7th. Piper Sandler upped their price target on shares of Principal Financial Group from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. Finally, Keefe, Bruyette & Woods cut their price target on shares of Principal Financial Group from $90.00 to $88.00 and set a “market perform” rating for the company in a report on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $86.90.

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.