Empowered Funds LLC Has $1.40 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

Empowered Funds LLC increased its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 358.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 16,328 shares of the company’s stock after purchasing an additional 12,768 shares during the period. Empowered Funds LLC’s holdings in Principal Financial Group were worth $1,403,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. EdgeRock Capital LLC bought a new position in shares of Principal Financial Group during the 2nd quarter worth about $26,000. Family Firm Inc. acquired a new position in Principal Financial Group in the 2nd quarter valued at approximately $33,000. Innealta Capital LLC bought a new stake in shares of Principal Financial Group in the 2nd quarter worth approximately $43,000. Capital Performance Advisors LLP acquired a new stake in shares of Principal Financial Group during the 3rd quarter worth approximately $50,000. Finally, MCF Advisors LLC increased its position in shares of Principal Financial Group by 55.6% during the second quarter. MCF Advisors LLC now owns 613 shares of the company’s stock valued at $48,000 after purchasing an additional 219 shares during the period. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Up 0.8 %

PFG stock opened at $84.80 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $19.40 billion, a price-to-earnings ratio of -94.22, a P/E/G ratio of 0.97 and a beta of 1.20. The business has a fifty day moving average price of $86.03 and a 200 day moving average price of $82.33. Principal Financial Group, Inc. has a fifty-two week low of $71.39 and a fifty-two week high of $91.97.

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. Analysts expect that Principal Financial Group, Inc. will post 7.09 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.44%. 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 -320.00%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Royal Bank of Canada raised their target price on Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Tuesday. 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. Bank of America dropped their price target on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Barclays lifted their price objective on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company increased their target price on Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Principal Financial Group has an average rating of “Hold” and a consensus target price of $85.92.

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.