Principal Financial Group, Inc. (NYSE:PFG) Stock Holdings Lifted by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. raised its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 0.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,935 shares of the company’s stock after purchasing an additional 598 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Principal Financial Group were worth $8,670,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in shares of Principal Financial Group by 2.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 6,325 shares of the company’s stock valued at $493,000 after acquiring an additional 135 shares during the last quarter. Ballentine Partners LLC raised its position in shares of Principal Financial Group by 5.0% in the second quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock valued at $228,000 after purchasing an additional 138 shares during the period. Graypoint LLC lifted its stake in shares of Principal Financial Group by 5.6% in the second quarter. Graypoint LLC now owns 2,654 shares of the company’s stock worth $208,000 after buying an additional 140 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in shares of Principal Financial Group by 2.3% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock worth $546,000 after buying an additional 142 shares during the period. Finally, Empirical Finance LLC grew its stake in Principal Financial Group by 1.8% in the 3rd quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock valued at $676,000 after buying an additional 142 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays upped their price target on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Morgan Stanley restated an “underweight” rating and set a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Royal Bank of Canada lifted their price target on shares of Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. Bank of America reduced their price objective on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Finally, Piper Sandler upped their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Principal Financial Group has an average rating of “Hold” and an average target price of $84.75.

Principal Financial Group Stock Down 0.7 %

NYSE PFG opened at $79.29 on Friday. The stock’s 50 day simple moving average is $86.05 and its 200 day simple moving average is $82.45. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.97. The firm has a market cap of $18.14 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 0.93 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the firm earned $1.72 earnings per share. As a group, sell-side analysts forecast that Principal Financial Group, Inc. will post 7.03 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business 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 $0.73 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.68%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio (DPR) is currently -324.44%.

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.