Toronto Dominion Bank Purchases 16,954 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Toronto Dominion Bank boosted its position in Principal Financial Group, Inc. (NYSE:PFG) by 15.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 123,958 shares of the company’s stock after acquiring an additional 16,954 shares during the period. Toronto Dominion Bank owned 0.05% of Principal Financial Group worth $10,648,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PFG. Acadian Asset Management LLC lifted its stake in shares of Principal Financial Group by 403.6% during the 2nd quarter. Acadian Asset Management LLC now owns 354,447 shares of the company’s stock valued at $27,800,000 after buying an additional 284,067 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Principal Financial Group during the 2nd quarter valued at $19,698,000. Bank of Montreal Can lifted its position 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 acquiring an additional 146,473 shares in the last quarter. Mizuho Securities USA LLC boosted its holdings 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 worth $13,112,000 after acquiring an additional 136,021 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of Principal Financial Group by 6,593.7% in the third quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock valued at $11,356,000 after purchasing an additional 130,225 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PFG. Wells Fargo & Company reissued an “underweight” rating and set a $75.00 price objective (down previously from $84.00) on shares of Principal Financial Group in a report on Wednesday. Piper Sandler increased their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Royal Bank of Canada boosted their price objective on shares of 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. Barclays increased their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat, Principal Financial Group presently has an average rating of “Hold” and an average target price of $84.75.

Principal Financial Group Price Performance

PFG opened at $78.91 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $18.05 billion, a P/E ratio of -87.68, a PEG ratio of 0.93 and a beta of 1.20. The stock has a 50-day moving average price of $85.78 and a 200-day moving average price of $82.41. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.26). The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same period in the prior year, the company earned $1.72 EPS. Equities analysts predict that Principal Financial Group, Inc. will post 7.03 earnings per share 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. Shareholders of record on Monday, December 2nd will be paid a $0.73 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a yield of 3.70%. Principal Financial Group’s payout ratio is currently -324.44%.

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.