Principal Financial Group, Inc. (NYSE:PFG) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC lifted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 4.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,584 shares of the company’s stock after acquiring an additional 259 shares during the period. Farther Finance Advisors LLC’s holdings in Principal Financial Group were worth $566,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PFG. EdgeRock Capital LLC acquired a new stake in Principal Financial Group in the 2nd quarter worth about $26,000. Family Firm Inc. acquired a new stake in Principal Financial Group in the 2nd quarter worth about $33,000. Innealta Capital LLC acquired a new stake in Principal Financial Group in the 2nd quarter worth about $43,000. MCF Advisors LLC boosted its stake in Principal Financial Group by 55.6% in the 2nd quarter. MCF Advisors LLC now owns 613 shares of the company’s stock worth $48,000 after buying an additional 219 shares during the last quarter. Finally, ORG Partners LLC boosted its stake in Principal Financial Group by 334.8% in the 2nd quarter. ORG Partners LLC now owns 787 shares of the company’s stock worth $62,000 after buying an additional 606 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of NYSE:PFG opened at $86.14 on Thursday. The company has a market cap of $19.70 billion, a P/E ratio of -95.71, a PEG ratio of 0.94 and a beta of 1.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. Principal Financial Group, Inc. has a one year low of $68.69 and a one year high of $91.97. The business’s 50-day simple moving average is $84.76 and its 200 day simple moving average is $81.93.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share 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 for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the business earned $1.72 EPS. On average, sell-side analysts forecast that Principal Financial Group, Inc. will post 7.12 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Monday, December 2nd. 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 -320.00%.

Analyst Upgrades and Downgrades

PFG has been the topic of a number of research analyst reports. Piper Sandler raised their price target on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods cut their price objective on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Morgan Stanley cut their price objective on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Citigroup raised their price objective on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada raised their price objective on Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, Principal Financial Group has an average rating of “Hold” and an average target price of $85.58.

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.