13,242 Shares in Principal Financial Group, Inc. (NYSE:PFG) Bought by FORA Capital LLC

FORA Capital LLC acquired a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 13,242 shares of the company's stock, valued at approximately $1,137,000.

Several other large investors also recently bought and sold shares of PFG. Glenmede Trust Co. NA grew its holdings in shares of Principal Financial Group by 2.5% in the third quarter. Glenmede Trust Co. NA now owns 12,004 shares of the company's stock valued at $1,031,000 after purchasing an additional 291 shares during the period. Bridgewater Associates LP lifted its stake in Principal Financial Group by 86.9% during the 3rd quarter. Bridgewater Associates LP now owns 184,083 shares of the company's stock worth $15,813,000 after acquiring an additional 85,575 shares in the last quarter. Transamerica Financial Advisors Inc. boosted its stake in shares of Principal Financial Group by 6.6% in the third quarter. Transamerica Financial Advisors Inc. now owns 3,490 shares of the company's stock valued at $300,000 after purchasing an additional 215 shares during the period. Brooklyn Investment Group boosted its position in Principal Financial Group by 7.7% in the 3rd quarter. Brooklyn Investment Group now owns 3,305 shares of the company's stock valued at $284,000 after buying an additional 235 shares during the period. Finally, Bank of Montreal Can boosted its holdings in Principal Financial Group by 41.0% in the third quarter. Bank of Montreal Can now owns 503,735 shares of the company's stock valued at $43,367,000 after purchasing an additional 146,473 shares during the period. Hedge funds and other institutional investors own 75.08% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a "sector perform" rating in a report on Tuesday, November 19th. Barclays boosted their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an "underweight" rating in a research note on Friday, October 25th. Bank of America cut their price target 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. Piper Sandler upped their price objective on Principal Financial Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley dropped their price objective on Principal Financial Group from $85.00 to $83.00 and set an "equal weight" rating on the stock in a report on Monday, August 19th. Two equities 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, the company currently has an average rating of "Hold" and a consensus target price of $85.92.

Principal Financial Group Stock Performance

NYSE PFG traded up $0.49 during trading hours on Thursday, hitting $87.28. 693,771 shares of the stock were exchanged, compared to its average volume of 1,141,632. 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 company has a market cap of $19.96 billion, a price-to-earnings ratio of -96.98, a price-to-earnings-growth ratio of 1.01 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 stock has a 50-day moving average of $86.35 and a 200 day moving average of $82.42.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing analysts' consensus estimates of $2.02 by ($0.26). The business had revenue of $3.01 billion during the quarter, compared to analysts' expectations 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 last year, the firm earned $1.72 earnings per share. As a group, equities research analysts forecast 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 issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Monday, December 2nd. This is an increase from Principal Financial Group's previous quarterly dividend of $0.72. Principal Financial Group's dividend payout ratio (DPR) 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.