Private Advisor Group LLC Raises Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Private Advisor Group LLC boosted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 9.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,007 shares of the company’s stock after buying an additional 2,897 shares during the quarter. Private Advisor Group LLC’s holdings in Principal Financial Group were worth $2,673,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. ICA Group Wealth Management LLC boosted its stake in Principal Financial Group by 100.0% in the first quarter. ICA Group Wealth Management LLC now owns 400 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Principal Financial Group in the first quarter worth about $32,000. Clear Street Markets LLC raised its stake in shares of Principal Financial Group by 96.1% in the first quarter. Clear Street Markets LLC now owns 449 shares of the company’s stock worth $33,000 after purchasing an additional 220 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in Principal Financial Group by 78.0% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 470 shares of the company’s stock valued at $35,000 after acquiring an additional 206 shares during the period. Finally, Avalon Trust Co acquired a new position in Principal Financial Group in the first quarter valued at approximately $35,000. 70.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PFG has been the subject of a number of analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 price target on shares of Principal Financial Group in a report on Monday, July 31st. Piper Sandler decreased their price target on Principal Financial Group from $80.00 to $74.00 and set a “neutral” rating for the company in a report on Monday, October 30th. Barclays decreased their price target on Principal Financial Group from $76.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, October 10th. Morgan Stanley boosted their price objective on Principal Financial Group from $71.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, November 15th. Finally, Wells Fargo & Company cut their price objective on Principal Financial Group from $78.00 to $72.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 17th. Five equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $74.92.

Principal Financial Group Stock Up 0.1 %

Shares of NYSE:PFG opened at $72.59 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average of $71.15 and a two-hundred day moving average of $74.34. The stock has a market cap of $17.31 billion, a P/E ratio of 11.96, a PEG ratio of 1.25 and a beta of 1.27. Principal Financial Group, Inc. has a 52-week low of $65.17 and a 52-week high of $93.87.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, October 26th. The company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.07. The company had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Principal Financial Group had a return on equity of 15.30% and a net margin of 10.54%. On average, research analysts expect that Principal Financial Group, Inc. will post 6.4 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Friday, December 1st will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Thursday, November 30th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.65. Principal Financial Group’s dividend payout ratio is 44.15%.

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 Global Investors, Principal International, and U.S. Insurance Solutions segments.