Man Group plc Decreases Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Man Group plc cut its stake in Principal Financial Group, Inc. (NYSE:PFG) by 35.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 140,518 shares of the company’s stock after selling 78,615 shares during the quarter. Man Group plc’s holdings in Principal Financial Group were worth $10,877,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PFG. Curio Wealth LLC bought a new stake in shares of Principal Financial Group in the 4th quarter worth about $29,000. BankPlus Trust Department purchased a new stake in Principal Financial Group in the 4th quarter worth about $33,000. Navigoe LLC bought a new stake in Principal Financial Group in the fourth quarter worth about $37,000. Covestor Ltd boosted its position in shares of Principal Financial Group by 144.3% during the fourth quarter. Covestor Ltd now owns 540 shares of the company’s stock valued at $42,000 after buying an additional 319 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in shares of Principal Financial Group during the fourth quarter valued at approximately $46,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Price Performance

Shares of PFG stock opened at $81.55 on Monday. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $91.98. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The stock has a fifty day simple moving average of $78.08 and a two-hundred day simple moving average of $81.08. The stock has a market capitalization of $18.28 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 0.76 and a beta of 1.01.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period in the prior year, the company earned $1.65 earnings per share. On average, analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be issued a $0.76 dividend. The ex-dividend date is Monday, June 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.73%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.75. Principal Financial Group’s payout ratio is currently 65.10%.

Wall Street Analyst Weigh In

PFG has been the topic of several recent analyst reports. Morgan Stanley increased their price target on Principal Financial Group from $65.00 to $67.00 and gave the stock an “underweight” rating in a report on Tuesday, May 6th. UBS Group cut their price objective on Principal Financial Group from $93.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. BMO Capital Markets began coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 target price on the stock. Barclays lowered their target price on shares of Principal Financial Group from $80.00 to $76.00 and set an “underweight” rating for the company in a research note on Friday, April 11th. Finally, Wells Fargo & Company upped their price target on shares of Principal Financial Group from $68.00 to $69.00 and gave the stock an “underweight” rating in a report on Tuesday, April 29th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $83.54.

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.