S&CO Inc. Takes $214,000 Position in Principal Financial Group, Inc. (NYSE:PFG)

S&CO Inc. purchased a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,500 shares of the company’s stock, valued at approximately $214,000.

Several other hedge funds also recently modified their holdings of PFG. EdgeRock Capital LLC acquired a new position in shares of Principal Financial Group in the 2nd quarter worth $26,000. Peterson Financial Group Inc. acquired a new stake in shares of Principal Financial Group in the third quarter worth about $33,000. Family Firm Inc. bought a new position in shares of Principal Financial Group in the second quarter worth about $33,000. Innealta Capital LLC bought a new position in shares of Principal Financial Group in the second quarter worth about $43,000. Finally, Capital Performance Advisors LLP bought a new position in Principal Financial Group during the third quarter valued at about $50,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PFG shares. Barclays upped their price objective on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Citigroup upped their price objective on shares of Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a research report on Tuesday, July 23rd. Morgan Stanley lowered their target price on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Piper Sandler increased their price objective on shares of 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, Wells Fargo & Company raised their target price 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 research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $85.58.

Principal Financial Group Price Performance

Shares of NYSE:PFG opened at $86.56 on Friday. The company’s fifty day moving average is $85.60 and its 200 day moving average is $82.22. Principal Financial Group, Inc. has a 52 week low of $71.37 and a 52 week high of $91.97. The stock has a market cap of $19.80 billion, a PE ratio of 12.60, a PEG ratio of 1.00 and a beta of 1.20. 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 posted its quarterly earnings data on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate 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 firm earned $1.72 EPS. Research analysts anticipate that Principal Financial Group, Inc. will post 7.09 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.73 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Monday, December 2nd. 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.