Regal Investment Advisors LLC Decreases Position in Principal Financial Group, Inc. (NYSE:PFG)

Regal Investment Advisors LLC lowered its position in Principal Financial Group, Inc. (NYSE:PFG) by 5.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,534 shares of the company’s stock after selling 200 shares during the quarter. Regal Investment Advisors LLC’s holdings in Principal Financial Group were worth $277,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. EdgeRock Capital LLC purchased a new position in Principal Financial Group during the 2nd quarter valued at about $26,000. Strategic Financial Concepts LLC purchased a new position in shares of Principal Financial Group during the 2nd quarter worth approximately $32,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Principal Financial Group during the 4th quarter worth approximately $33,000. Family Firm Inc. purchased a new stake in Principal Financial Group in the 2nd quarter valued at approximately $33,000. Finally, Riverview Trust Co purchased a new position in Principal Financial Group during the first quarter worth $34,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

NYSE:PFG opened at $85.08 on Thursday. Principal Financial Group, Inc. has a fifty-two week low of $66.21 and a fifty-two week high of $88.26. The firm’s 50 day moving average is $80.23 and its two-hundred day moving average is $81.27. The company has a market cap of $19.70 billion, a P/E ratio of 16.24, a P/E/G ratio of 0.91 and a beta of 1.19. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $3.78 billion. Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. During the same quarter in the previous year, the business posted $1.53 EPS. Analysts expect that Principal Financial Group, Inc. will post 7.31 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Thursday, September 5th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.39%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.71. Principal Financial Group’s payout ratio is presently 54.96%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Piper Sandler upped their price objective on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday. Citigroup upped their target price on shares of Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. raised shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $88.00 to $96.00 in a research note on Tuesday, July 2nd. Bank of America boosted their price objective on shares of Principal Financial Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Finally, Morgan Stanley decreased their target price on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.50.

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.