Principal Financial Group, Inc. $PFG Stock Holdings Trimmed by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 6.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,179 shares of the company’s stock after selling 1,480 shares during the period. State of Alaska Department of Revenue’s holdings in Principal Financial Group were worth $1,841,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PFG. Oliver Lagore Vanvalin Investment Group bought a new stake in Principal Financial Group during the 2nd quarter valued at $25,000. American National Bank & Trust acquired a new position in shares of Principal Financial Group during the 2nd quarter valued at $28,000. von Borstel & Associates Inc. acquired a new position in shares of Principal Financial Group during the 1st quarter valued at $32,000. Zions Bancorporation National Association UT acquired a new position in shares of Principal Financial Group during the 1st quarter valued at $34,000. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of Principal Financial Group during the 1st quarter valued at $45,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Up 1.5%

NYSE:PFG opened at $84.26 on Friday. The firm has a market capitalization of $18.77 billion, a price-to-earnings ratio of 12.61, a PEG 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 current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The business’s fifty day moving average price is $79.89 and its 200 day moving average price is $78.76.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.19. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same quarter last year, the business earned $1.63 EPS. On average, sell-side analysts forecast 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 declared 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 of this dividend was Thursday, September 4th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a yield of 3.7%. Principal Financial Group’s payout ratio is presently 62.78%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Principal Financial Group from $92.00 to $101.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Morgan Stanley lifted their price target on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research report on Monday, August 18th. Barclays lifted their price target on Principal Financial Group from $76.00 to $80.00 and gave the company an “underweight” rating in a research report on Monday, July 7th. Keefe, Bruyette & Woods lowered their price target on Principal Financial Group from $90.00 to $88.00 and set a “market perform” rating on the stock in a research report on Monday, August 4th. Finally, Wells Fargo & Company cut their target price on 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. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has an average 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.