RIA Advisory Group LLC Takes Position in Principal Financial Group, Inc. (NYSE:PFG)

RIA Advisory Group LLC bought a new stake in Principal Financial Group, Inc. (NYSE:PFG) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 7,421 shares of the company’s stock, valued at approximately $638,000.

Other institutional investors also recently bought and sold shares of the company. EdgeRock Capital LLC purchased a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $26,000. Family Firm Inc. acquired a new position in shares of Principal Financial Group during the 2nd quarter worth $33,000. Innealta Capital LLC acquired a new position in Principal Financial Group during the second quarter worth about $43,000. Capital Performance Advisors LLP acquired a new position in shares of Principal Financial Group during the 3rd quarter worth approximately $50,000. Finally, MCF Advisors LLC lifted its position in shares of Principal Financial Group by 55.6% in the second quarter. MCF Advisors LLC now owns 613 shares of the company’s stock valued at $48,000 after acquiring 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

PFG has been the subject of a number of research analyst reports. Bank of America dropped their price objective 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. Citigroup raised their price objective on shares of Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Piper Sandler upped their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. 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. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $85.58.

Principal Financial Group Stock Performance

NYSE PFG opened at $86.56 on Friday. Principal Financial Group, Inc. has a 52-week low of $71.37 and a 52-week high of $91.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market capitalization of $19.80 billion, a price-to-earnings ratio of -96.18, a P/E/G ratio of 1.00 and a beta of 1.20. The company’s fifty day moving average is $85.60 and its two-hundred day moving average is $82.20.

Principal Financial Group (NYSE:PFG) last issued 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 company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same period in the previous year, the company posted $1.72 earnings per share. Equities research analysts forecast that Principal Financial Group, Inc. will post 7.12 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 paid a $0.73 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.37%. 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%.

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.