Venturi Wealth Management LLC Grows Position in Principal Financial Group, Inc. (NYSE:PFG)

Venturi Wealth Management LLC grew its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 24.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,226 shares of the company’s stock after buying an additional 237 shares during the period. Venturi Wealth Management LLC’s holdings in Principal Financial Group were worth $105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. State Board of Administration of Florida Retirement System grew its position in shares of Principal Financial Group by 6.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 296,889 shares of the company’s stock valued at $25,624,000 after purchasing an additional 18,368 shares in the last quarter. Cetera Investment Advisers grew its holdings in Principal Financial Group by 108.1% in the 1st quarter. Cetera Investment Advisers now owns 53,579 shares of the company’s stock valued at $4,624,000 after buying an additional 27,827 shares in the last quarter. Sei Investments Co. increased its stake in shares of Principal Financial Group by 59.4% in the 1st quarter. Sei Investments Co. now owns 24,275 shares of the company’s stock worth $2,095,000 after acquiring an additional 9,048 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Principal Financial Group by 57.3% during the 2nd quarter. SG Americas Securities LLC now owns 178,635 shares of the company’s stock valued at $14,014,000 after acquiring an additional 65,070 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of Principal Financial Group by 54.2% in the first quarter. Tidal Investments LLC now owns 26,847 shares of the company’s stock valued at $2,317,000 after purchasing an additional 9,432 shares during the period. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $86.36 on Friday. The company’s 50 day moving average is $85.29 and its two-hundred day moving average is $82.12. The firm has a market cap of $19.75 billion, a PE ratio of -95.96, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 52-week low of $71.37 and a 52-week high of $91.97.

Principal Financial Group (NYSE:PFG) last released its 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 company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the business posted $1.72 earnings per share. On average, research analysts expect that Principal Financial Group, Inc. will post 7.12 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors 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 dividend yield of 3.38%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. Principal Financial Group’s dividend payout ratio is presently -324.44%.

Analyst Upgrades and Downgrades

PFG has been the topic of several recent analyst reports. Barclays boosted their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Morgan Stanley cut their target price on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Jefferies Financial Group upped their price target on Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Piper Sandler boosted their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Bank of America lowered their target price on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $85.58.

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.