WCM Investment Management LLC Takes $265,000 Position in Principal Financial Group, Inc. (NYSE:PFG)

WCM Investment Management LLC acquired a new stake in Principal Financial Group, Inc. (NYSE:PFG) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,081 shares of the company’s stock, valued at approximately $265,000.

Several other large investors have also recently added to or reduced their stakes in PFG. EdgeRock Capital LLC acquired a new stake in shares of Principal Financial Group in the second quarter valued at $26,000. Strategic Financial Concepts LLC acquired a new stake in Principal Financial Group in the 2nd quarter valued at about $32,000. Family Firm Inc. purchased a new position in shares of Principal Financial Group in the 2nd quarter valued at about $33,000. Innealta Capital LLC purchased a new position in shares of Principal Financial Group in the 2nd quarter valued at about $43,000. Finally, MCF Advisors LLC grew 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 worth $48,000 after buying an additional 219 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Jefferies Financial Group raised their target price on shares of Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Royal Bank of Canada lifted their price objective on shares of Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Bank of America cut their price target on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Barclays upped their price objective on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods cut their target price on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $85.58.

Principal Financial Group Price Performance

PFG stock opened at $87.11 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. The company has a market capitalization of $19.92 billion, a P/E ratio of -96.79, a PEG ratio of 0.98 and a beta of 1.20. The business has a 50 day simple moving average of $85.06 and a 200-day simple moving average of $82.04. Principal Financial Group, Inc. has a twelve month low of $68.96 and a twelve month high of $91.97.

Principal Financial Group (NYSE:PFG) last issued 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). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the company earned $1.72 EPS. As a group, equities analysts anticipate that Principal Financial Group, Inc. will post 7.12 EPS for the current year.

Principal Financial Group Increases Dividend

The business 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. The ex-dividend date is Monday, December 2nd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a yield of 3.35%. Principal Financial Group’s dividend payout ratio is currently -320.00%.

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.