Victory Capital Management Inc. Has $34.34 Million Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Victory Capital Management Inc. lowered its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 8.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 399,739 shares of the company’s stock after selling 34,958 shares during the period. Victory Capital Management Inc. owned approximately 0.17% of Principal Financial Group worth $34,338,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Capital Research Global Investors grew its position in shares of Principal Financial Group by 2.4% during the 1st quarter. Capital Research Global Investors now owns 6,602,298 shares of the company’s stock worth $569,844,000 after buying an additional 152,774 shares during the period. Dimensional Fund Advisors LP boosted its stake in Principal Financial Group by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,905,124 shares of the company’s stock worth $306,393,000 after acquiring an additional 39,854 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Principal Financial Group by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 1,903,138 shares of the company’s stock worth $149,301,000 after purchasing an additional 53,516 shares during the period. AustralianSuper Pty Ltd increased its stake in Principal Financial Group by 27.2% in the third quarter. AustralianSuper Pty Ltd now owns 540,212 shares of the company’s stock valued at $46,404,000 after purchasing an additional 115,569 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Principal Financial Group by 0.5% during the second quarter. Rhumbline Advisers now owns 478,129 shares of the company’s stock valued at $37,509,000 after purchasing an additional 2,487 shares during the period. 75.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PFG has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods decreased their target price on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. Citigroup boosted their price objective on Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a report on Tuesday, July 23rd. Barclays increased their target price on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Piper Sandler boosted their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their price objective on shares of Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Principal Financial Group presently has an average rating of “Hold” and a consensus target price of $85.58.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $86.56 on Friday. Principal Financial Group, Inc. has a 52 week low of $71.37 and a 52 week high of $91.97. The company’s 50 day moving average price is $85.60 and its two-hundred day moving average price is $82.20. The stock has a market cap of $19.80 billion, a P/E ratio of -96.18, a P/E/G ratio of 1.00 and a beta of 1.20. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the business posted $1.72 earnings per share. On average, equities analysts predict that Principal Financial Group, Inc. will post 7.12 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a dividend of $0.73 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.92 annualized dividend and a yield of 3.37%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio is presently -320.00%.

Principal Financial Group Company 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.