Wealth Enhancement Advisory Services LLC Has $2.78 Million Stake in Principal Financial Group, Inc. (NYSE:PFG)

Wealth Enhancement Advisory Services LLC lifted its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,413 shares of the company’s stock after acquiring an additional 492 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Principal Financial Group were worth $2,784,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Nordea Investment Management AB raised its position in Principal Financial Group by 3.8% in the 4th quarter. Nordea Investment Management AB now owns 18,930 shares of the company’s stock valued at $1,468,000 after purchasing an additional 690 shares during the last quarter. First Citizens Financial Corp raised its holdings in shares of Principal Financial Group by 8.0% in the fourth quarter. First Citizens Financial Corp now owns 3,522 shares of the company’s stock valued at $273,000 after buying an additional 261 shares during the last quarter. Everence Capital Management Inc. lifted its position in Principal Financial Group by 57.3% during the 4th quarter. Everence Capital Management Inc. now owns 7,110 shares of the company’s stock worth $550,000 after buying an additional 2,590 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Principal Financial Group by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock worth $211,534,000 after acquiring an additional 118,722 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Principal Financial Group by 3.0% in the 3rd quarter. Principal Financial Group Inc. now owns 231,277 shares of the company’s stock valued at $19,867,000 after acquiring an additional 6,817 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Trading Up 1.3 %

NYSE:PFG opened at $78.84 on Wednesday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.97. The firm has a market capitalization of $18.03 billion, a price-to-earnings ratio of -87.60, a PEG ratio of 0.92 and a beta of 1.22. The business’s 50-day moving average price is $81.64 and its two-hundred day moving average price is $82.16.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results 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). The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same quarter in the prior year, the business earned $1.72 earnings per share. On average, equities analysts expect that Principal Financial Group, Inc. will post 7.03 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.70%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date was Monday, December 2nd. Principal Financial Group’s dividend payout ratio (DPR) is currently -324.44%.

Wall Street Analysts Forecast Growth

PFG has been the topic of a number of research reports. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Barclays upped their price objective on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods decreased their price objective on Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. Morgan Stanley restated an “underweight” rating and set a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Finally, Wells Fargo & Company decreased their price target on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a report on Tuesday. Four analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and a consensus price target of $84.25.

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.