Blackhawk Capital Partners LLC. Takes Position in Principal Financial Group, Inc. (NYSE:PFG)

Blackhawk Capital Partners LLC. acquired a new stake in Principal Financial Group, Inc. (NYSE:PFG) in the 3rd quarter, Holdings Channel reports. The firm acquired 2,430 shares of the company’s stock, valued at approximately $209,000.

Other hedge funds also recently modified their holdings of the company. EdgeRock Capital LLC bought a new stake in Principal Financial Group during the 2nd quarter valued at $26,000. Strategic Financial Concepts LLC bought a new stake in Principal Financial Group during the 2nd quarter valued at $32,000. Family Firm Inc. bought a new stake in Principal Financial Group during the 2nd quarter valued at $33,000. Peterson Financial Group Inc. bought a new stake in Principal Financial Group during the 3rd quarter valued at $33,000. Finally, Innealta Capital LLC bought a new stake in Principal Financial Group during the 2nd quarter valued at $43,000. Institutional investors own 75.08% of the company’s stock.

Wall Street Analyst Weigh In

PFG has been the subject of a number of recent research reports. Morgan Stanley decreased their price target on shares of 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. Keefe, Bruyette & Woods cut their price objective on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Bank of America cut their price objective on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Royal Bank of Canada lifted their price objective on shares of Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a report on Tuesday. Finally, Wells Fargo & Company lifted their price objective on shares of 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 investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Trading Down 0.0 %

Shares of Principal Financial Group stock opened at $84.15 on Thursday. Principal Financial Group, Inc. has a 52-week low of $71.39 and a 52-week high of $91.97. The stock’s 50-day simple moving average is $85.94 and its 200 day simple moving average is $82.31. The stock has a market capitalization of $19.25 billion, a P/E ratio of 12.25, a P/E/G ratio of 0.97 and a beta of 1.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data 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 firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the firm posted $1.72 earnings per share. As a group, research analysts anticipate that Principal Financial Group, Inc. will post 7.09 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a dividend yield of 3.47%. Principal Financial Group’s dividend payout ratio is currently -320.00%.

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.