Handelsbanken Fonder AB Lowers Holdings in Principal Financial Group, Inc. $PFG

Handelsbanken Fonder AB trimmed its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 23.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,366 shares of the company's stock after selling 3,188 shares during the period. Handelsbanken Fonder AB's holdings in Principal Financial Group were worth $823,000 as of its most recent filing with the Securities & Exchange Commission.

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A number of other large investors also recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC acquired a new stake in Principal Financial Group during the second quarter valued at $3,269,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Principal Financial Group by 3.4% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,037 shares of the company's stock worth $1,989,000 after acquiring an additional 814 shares in the last quarter. LVW Advisors LLC acquired a new stake in shares of Principal Financial Group during the 2nd quarter valued at about $297,000. Public Employees Retirement System of Ohio grew its position in shares of Principal Financial Group by 3.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 72,348 shares of the company's stock valued at $5,747,000 after acquiring an additional 2,469 shares during the period. Finally, AE Wealth Management LLC increased its stake in shares of Principal Financial Group by 14.3% in the 2nd quarter. AE Wealth Management LLC now owns 156,900 shares of the company's stock valued at $12,462,000 after purchasing an additional 19,644 shares in the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Wee Yee Cheong sold 1,887 shares of the business's stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $85.04, for a total transaction of $160,470.48. Following the transaction, the executive vice president directly owned 81,421 shares in the company, valued at $6,924,041.84. The trade was a 2.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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PFG has been the topic of a number of recent analyst reports. Evercore ISI increased their price target on Principal Financial Group from $92.00 to $94.00 and gave the stock an "in-line" rating in a research report on Thursday, October 9th. Barclays increased their target price on Principal Financial Group from $80.00 to $83.00 and gave the company an "underweight" rating in a research report on Wednesday, October 8th. Wells Fargo & Company boosted their price target on shares of Principal Financial Group from $73.00 to $74.00 and gave the stock an "underweight" rating in a report on Wednesday, October 29th. Piper Sandler set a $94.00 price objective on shares of Principal Financial Group and gave the stock an "overweight" rating in a research report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Principal Financial Group from $90.00 to $91.00 and gave the company a "market perform" rating in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $88.90.

Get Our Latest Research Report on Principal Financial Group

Principal Financial Group Trading Up 0.3%

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Shares of PFG stock opened at $84.82 on Friday. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $90.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The stock's fifty day moving average is $82.31 and its two-hundred day moving average is $80.16. The firm has a market capitalization of $18.90 billion, a P/E ratio of 12.70, a PEG ratio of 0.76 and a beta of 1.02.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its earnings results on Monday, October 27th. The company reported $2.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $0.12. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter last year, the business earned $2.05 earnings per share. Research analysts expect 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 announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Wednesday, December 3rd will be paid a $0.79 dividend. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 3.7%. Principal Financial Group's dividend payout ratio is 46.00%.

Principal Financial Group 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.

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Want to see what other hedge funds are holding PFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Principal Financial Group, Inc. (NYSE:PFG - Free Report).

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