11,231 Principal Financial Group, Inc. $PFG Shares Sold by DMKC Advisory Services LLC

DMKC Advisory Services LLC trimmed its holdings in Principal Financial Group, Inc. (NASDAQ:PFG) by 15.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 61,616 shares of the company’s stock after selling 11,231 shares during the quarter. Principal Financial Group accounts for about 1.7% of DMKC Advisory Services LLC’s holdings, making the stock its 17th biggest holding. DMKC Advisory Services LLC’s holdings in Principal Financial Group were worth $6,899,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PFG. BlackRock Inc. purchased a new stake in Principal Financial Group during the second quarter valued at about $2,157,181,000. State Street Corp increased its holdings in shares of Principal Financial Group by 0.8% in the second quarter. State Street Corp now owns 10,264,856 shares of the company’s stock worth $1,106,346,000 after buying an additional 85,014 shares during the period. Bank of America Corp DE increased its holdings in shares of Principal Financial Group by 5.0% in the first quarter. Bank of America Corp DE now owns 8,819,452 shares of the company’s stock worth $794,721,000 after buying an additional 420,319 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Principal Financial Group by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,886,509 shares of the company’s stock worth $350,187,000 after buying an additional 119,327 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Principal Financial Group by 12.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,216,125 shares of the company’s stock valued at $238,854,000 after acquiring an additional 244,550 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PFG shares. Atlantic Securities set a $94.00 target price on Principal Financial Group in a research note on Wednesday, July 15th. Piper Sandler reduced their price target on Principal Financial Group from $128.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 28th. Raymond James Financial reaffirmed an “outperform” rating and issued a $121.00 price target on shares of Principal Financial Group in a research note on Monday, August 17th. Weiss Ratings upgraded Principal Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Finally, Bank of America boosted their price objective on Principal Financial Group from $94.00 to $104.00 and gave the company an “underperform” rating in a research report on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $107.75.

Principal Financial Group Stock Up 4.0%

Shares of NASDAQ:PFG opened at $115.39 on Tuesday. The stock’s 50-day moving average is $112.39 and its 200 day moving average is $104.18. The company has a market cap of $24.51 billion, a PE ratio of 12.82, a P/E/G ratio of 1.34 and a beta of 0.87. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.28 and a quick ratio of 0.28. Principal Financial Group, Inc. has a 1 year low of $80.00 and a 1 year high of $121.18.

Principal Financial Group (NASDAQ:PFG) last released its quarterly earnings data on Thursday, October 29th. The company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.46 by ($0.24). The business had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.31 billion. Principal Financial Group had a return on equity of 16.51% and a net margin of 11.89%. During the same quarter last year, the business posted $2.32 EPS. Sell-side analysts anticipate that Principal Financial Group, Inc. will post 9.18 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Wednesday, December 2nd will be issued a dividend of $0.85 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.84. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Wednesday, December 2nd. Principal Financial Group’s dividend payout ratio is currently 37.33%.

Principal Financial Group Profile

Principal Financial Group, Inc is a financial services company headquartered in Des Moines, Iowa. Founded in 1879 as Bankers Life Association, it later adopted the Principal name and expanded beyond its original insurance business.

The company provides retirement and pension solutions, investment management, life and disability insurance, and employee benefits to businesses, individuals, and institutional clients. Its offerings include workplace retirement plans, group benefits, and investment products and services.

Principal serves customers in the United States and internationally, with operations spanning markets in Latin America and Asia.