Palisade Asset Management LLC Has $597,000 Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Palisade Asset Management LLC lifted its stake in Principal Financial Group, Inc. (NYSE:PFG) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,946 shares of the company’s stock after buying an additional 146 shares during the period. Palisade Asset Management LLC’s holdings in Principal Financial Group were worth $597,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PFG. EdgeRock Capital LLC bought a new stake in Principal Financial Group in the second quarter valued at $26,000. Strategic Financial Concepts LLC bought a new position in shares of Principal Financial Group during the second quarter valued at $32,000. Family Firm Inc. acquired a new stake in shares of Principal Financial Group in the 2nd quarter valued at $33,000. Peterson Financial Group Inc. bought a new stake in shares of Principal Financial Group in the 3rd quarter worth about $33,000. Finally, Innealta Capital LLC acquired a new stake in shares of Principal Financial Group during the 2nd quarter worth about $43,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Up 1.2 %

Shares of PFG opened at $85.73 on Friday. The stock’s fifty day simple moving average is $86.12 and its 200-day simple moving average is $82.35. The firm has a market capitalization of $19.61 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 0.99 and a beta of 1.20. Principal Financial Group, Inc. has a 12-month low of $71.39 and a 12-month high of $91.97. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG) last released its 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). The business had revenue of $3.01 billion for 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 previous year, the company posted $1.72 earnings per share. As a group, research analysts predict that Principal Financial Group, Inc. will post 7.04 earnings per share 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 paid a $0.73 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.41%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio is -320.00%.

Wall Street Analysts Forecast Growth

PFG has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Barclays boosted their target price on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Wells Fargo & Company raised their price target on Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Bank of America reduced their price objective 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. Finally, Keefe, Bruyette & Woods decreased their target price on 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. 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Company 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.