Unigestion Holding SA Makes New Investment in Principal Financial Group, Inc. (NYSE:PFG)

Unigestion Holding SA bought a new stake in Principal Financial Group, Inc. (NYSE:PFG) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 45,524 shares of the company’s stock, valued at approximately $3,911,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in shares of Principal Financial Group by 2.2% during the second quarter. Farther Finance Advisors LLC now owns 6,325 shares of the company’s stock valued at $493,000 after acquiring an additional 135 shares during the last quarter. Ballentine Partners LLC boosted its stake in Principal Financial Group by 5.0% during the 2nd quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock worth $228,000 after purchasing an additional 138 shares during the last quarter. Graypoint LLC grew its holdings in shares of Principal Financial Group by 5.6% during the second quarter. Graypoint LLC now owns 2,654 shares of the company’s stock worth $208,000 after buying an additional 140 shares in the last quarter. Prime Capital Investment Advisors LLC raised its position in shares of Principal Financial Group by 2.3% in the third quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock valued at $546,000 after buying an additional 142 shares during the last quarter. Finally, Empirical Finance LLC lifted its stake in shares of Principal Financial Group by 1.8% in the third quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock worth $676,000 after buying an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analysts Set New Price Targets

PFG has been the subject of several research reports. Royal Bank of Canada upped their price objective on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 19th. Bank of America cut their price target on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company reissued an “underweight” rating and set a $75.00 price objective (down previously from $84.00) on shares of Principal Financial Group in a research note on Wednesday. Piper Sandler raised their target price on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley reissued an “underweight” rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $84.75.

Principal Financial Group Stock Down 2.2 %

Shares of NYSE PFG opened at $80.74 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $86.25 and its two-hundred day moving average is $82.48. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.97. The firm has a market cap of $18.47 billion, a price-to-earnings ratio of -89.71, a PEG ratio of 0.98 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the firm posted $1.72 EPS. Research analysts predict that Principal Financial Group, Inc. will post 7.03 EPS for the current year.

Principal Financial Group Increases Dividend

The firm 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. This represents a $2.92 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Monday, December 2nd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio is currently -324.44%.

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.