BNP Paribas Financial Markets Sells 424 Shares of Principal Financial Group, Inc. (NYSE:PFG)

BNP Paribas Financial Markets lessened its position in Principal Financial Group, Inc. (NYSE:PFG) by 0.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 367,845 shares of the company’s stock after selling 424 shares during the quarter. BNP Paribas Financial Markets owned about 0.16% of Principal Financial Group worth $31,598,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC increased its stake in shares of Principal Financial Group by 403.6% in the second quarter. Acadian Asset Management LLC now owns 354,447 shares of the company’s stock worth $27,800,000 after purchasing an additional 284,067 shares during the period. Massachusetts Financial Services Co. MA bought a new position in Principal Financial Group in the 2nd quarter worth approximately $19,698,000. Swedbank AB bought a new position in Principal Financial Group in the 1st quarter worth approximately $13,996,000. Bank of Montreal Can lifted its holdings in shares of Principal Financial Group by 41.0% during the third quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after buying an additional 146,473 shares during the last quarter. Finally, Mizuho Securities USA LLC boosted its position in shares of Principal Financial Group by 818.1% in the third quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock valued at $13,112,000 after acquiring an additional 136,021 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Down 0.2 %

PFG opened at $87.09 on Friday. The firm has a market cap of $19.92 billion, a price-to-earnings ratio of -96.77, a PEG ratio of 1.02 and a beta of 1.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The firm’s 50-day simple moving average is $86.41 and its 200-day simple moving average is $82.48. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.97.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the company posted $1.72 earnings per share. Equities research analysts anticipate that Principal Financial Group, Inc. will post 7.04 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 3.35%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group’s dividend payout ratio (DPR) is currently -320.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PFG shares. Barclays upped their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Morgan Stanley reduced their target price on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Royal Bank of Canada boosted their price target on Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 19th. Wells Fargo & Company raised their price objective on Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, Bank of America cut their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Principal Financial Group has a consensus rating of “Hold” and a consensus price target of $85.92.

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.