Principal Financial Group, Inc. (NASDAQ:PFG) Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC trimmed its position in Principal Financial Group, Inc. (NASDAQ:PFG) by 23.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 127,339 shares of the company’s stock after selling 39,649 shares during the period. Rafferty Asset Management LLC’s holdings in Principal Financial Group were worth $8,201,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PFG. Envestnet Asset Management Inc. lifted its position in Principal Financial Group by 11.6% in the second quarter. Envestnet Asset Management Inc. now owns 40,294 shares of the company’s stock worth $2,546,000 after purchasing an additional 4,193 shares during the period. HighTower Advisors LLC lifted its position in shares of Principal Financial Group by 3.1% during the 2nd quarter. HighTower Advisors LLC now owns 10,492 shares of the company’s stock valued at $661,000 after acquiring an additional 319 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Principal Financial Group by 11.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 50,404 shares of the company’s stock valued at $3,185,000 after acquiring an additional 5,372 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Principal Financial Group by 1.2% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 336,788 shares of the company’s stock valued at $21,282,000 after acquiring an additional 4,031 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Principal Financial Group by 66.6% during the 2nd quarter. Toronto Dominion Bank now owns 1,386,452 shares of the company’s stock valued at $87,610,000 after acquiring an additional 554,401 shares during the last quarter. Hedge funds and other institutional investors own 71.77% of the company’s stock.

Shares of NASDAQ:PFG opened at $76.82 on Friday. The company’s fifty day moving average is $71.98 and its two-hundred day moving average is $67.59. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.27. Principal Financial Group, Inc. has a 12-month low of $48.88 and a 12-month high of $77.68. The company has a market cap of $20.36 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 0.64 and a beta of 1.59.

Principal Financial Group (NASDAQ:PFG) last announced its earnings results on Tuesday, October 26th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.10. Principal Financial Group had a net margin of 12.28% and a return on equity of 10.91%. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the previous year, the business earned $0.85 EPS. Equities research analysts anticipate that Principal Financial Group, Inc. will post 6.55 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 21st. Stockholders of record on Wednesday, December 1st were paid a $0.64 dividend. The ex-dividend date of this dividend was Tuesday, November 30th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.63. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.33%. Principal Financial Group’s dividend payout ratio is 41.22%.

A number of equities research analysts have recently commented on the company. Royal Bank of Canada increased their price objective on Principal Financial Group from $67.00 to $71.00 and gave the company a “sector perform” rating in a research report on Thursday, October 28th. They noted that the move was a valuation call. JPMorgan Chase & Co. increased their price objective on Principal Financial Group from $71.00 to $72.00 in a research report on Tuesday, January 4th. Piper Sandler increased their price objective on Principal Financial Group from $68.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, December 13th. The Goldman Sachs Group assumed coverage on Principal Financial Group in a research report on Thursday, December 2nd. They set a “sell” rating and a $64.00 price objective for the company. Finally, Barclays increased their price objective on Principal Financial Group from $76.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Principal Financial Group currently has an average rating of “Hold” and an average target price of $71.91.

About Principal Financial Group

Principal Financial Group, Inc is a financial company, which offers financial products and services to businesses, individuals and institutional clients. It specializes in retirement solutions, insurance, and investment products through its diverse family of financial services companies and national network of financial professionals.

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Institutional Ownership by Quarter for Principal Financial Group (NASDAQ:PFG)

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