Nisa Investment Advisors LLC Sells 467 Shares of Principal Financial Group, Inc. $PFG

Nisa Investment Advisors LLC trimmed its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,401 shares of the company’s stock after selling 467 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Principal Financial Group were worth $6,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of PFG. GAMMA Investing LLC grew its holdings in Principal Financial Group by 40.8% in the first quarter. GAMMA Investing LLC now owns 5,674 shares of the company’s stock worth $479,000 after purchasing an additional 1,645 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Principal Financial Group by 16.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 57,329 shares of the company’s stock worth $4,837,000 after buying an additional 8,054 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Principal Financial Group by 11.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,169 shares of the company’s stock worth $2,174,000 after buying an additional 2,636 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Principal Financial Group by 2.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 526,649 shares of the company’s stock valued at $44,433,000 after buying an additional 13,483 shares in the last quarter. Finally, Amalgamated Bank raised its stake in Principal Financial Group by 1.6% during the first quarter. Amalgamated Bank now owns 41,840 shares of the company’s stock valued at $3,530,000 after buying an additional 657 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

PFG has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Principal Financial Group from $72.00 to $73.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 8th. Piper Sandler set a $94.00 price target on shares of Principal Financial Group and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Barclays raised their price objective on shares of Principal Financial Group from $80.00 to $83.00 and gave the company an “underweight” rating in a research note on Wednesday, October 8th. Morgan Stanley upgraded shares of Principal Financial Group from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $80.00 to $81.00 in a research note on Thursday, October 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Principal Financial Group from $92.00 to $101.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Principal Financial Group has an average rating of “Hold” and a consensus target price of $88.70.

Principal Financial Group Stock Up 3.3%

PFG stock opened at $82.20 on Wednesday. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $90.31. The business’s 50-day moving average is $81.02 and its two-hundred day moving average is $78.80. 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 company has a market cap of $18.31 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 0.76 and a beta of 1.03.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Monday, October 27th. The company reported $2.32 EPS for the quarter, beating the consensus estimate 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 company posted $2.05 earnings per share. As a group, analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Wednesday, December 3rd will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, December 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.78. Principal Financial Group’s payout ratio is presently 62.78%.

About Principal Financial Group

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.