Barclays PLC Raises Position in Principal Financial Group, Inc. (NYSE:PFG)

Barclays PLC grew its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 12.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 806,672 shares of the company's stock after acquiring an additional 88,179 shares during the quarter. Barclays PLC owned 0.35% of Principal Financial Group worth $69,293,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PFG. EdgeRock Capital LLC bought a new position in Principal Financial Group during the 2nd quarter worth approximately $26,000. Strategic Financial Concepts LLC purchased a new position in shares of Principal Financial Group in the second quarter worth $32,000. Family Firm Inc. bought a new stake in Principal Financial Group during the 2nd quarter valued at $33,000. Peterson Financial Group Inc. purchased a new stake in Principal Financial Group during the 3rd quarter valued at $33,000. Finally, Innealta Capital LLC bought a new stake in Principal Financial Group in the 2nd quarter worth $43,000. Hedge funds and other institutional investors own 75.08% of the company's stock.

Principal Financial Group Stock Down 0.7 %

Shares of NYSE:PFG traded down $0.55 during midday trading on Thursday, reaching $79.29. The company's stock had a trading volume of 1,409,101 shares, compared to its average volume of 1,143,689. 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 firm has a 50 day moving average of $86.05 and a 200-day moving average of $82.45. The firm has a market capitalization of $18.14 billion, a P/E ratio of -88.71, a PEG ratio of 0.98 and a beta of 1.20. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its quarterly earnings data 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). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The business had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter last year, the company posted $1.72 EPS. On average, research analysts anticipate that Principal Financial Group, Inc. will post 7.03 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.73 per share. This is a boost from Principal Financial Group's previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a yield of 3.68%. Principal Financial Group's payout ratio is presently -324.44%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler increased their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Bank of America lowered their price target on Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating for the company in a research report on Thursday, October 10th. Royal Bank of Canada lifted their price objective on Principal Financial Group from $87.00 to $91.00 and gave the stock a "sector perform" rating in a research report on Tuesday, November 19th. Barclays upped their target price on Principal Financial Group from $75.00 to $77.00 and gave the company an "underweight" rating in a report on Friday, October 25th. Finally, Wells Fargo & Company reiterated an "underweight" rating and issued a $75.00 price target (down previously from $84.00) on shares of Principal Financial Group in a report on Wednesday. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $84.75.

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.