Bridgewater Associates LP Has $15.81 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

Bridgewater Associates LP grew its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 86.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 184,083 shares of the company's stock after acquiring an additional 85,575 shares during the quarter. Bridgewater Associates LP owned 0.08% of Principal Financial Group worth $15,813,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. EdgeRock Capital LLC acquired a new position in Principal Financial Group in the second quarter valued at about $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Principal Financial Group in the 2nd quarter valued at approximately $32,000. Family Firm Inc. bought a new stake in Principal Financial Group during the 2nd quarter worth approximately $33,000. Peterson Financial Group Inc. acquired a new stake in Principal Financial Group during the 3rd quarter worth approximately $33,000. Finally, Innealta Capital LLC bought a new position in Principal Financial Group in the second quarter valued at approximately $43,000. 75.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on PFG shares. Wells Fargo & Company raised 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. Piper Sandler lifted their price target on Principal Financial Group from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Wednesday, October 2nd. Bank of America dropped their target price on Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada upped their price target 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. Finally, Morgan Stanley lowered their price objective on shares of 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 issued a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $85.92.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock traded up $0.49 during trading on Thursday, hitting $87.28. 693,771 shares of the stock were exchanged, compared to its average volume of 1,141,632. Principal Financial Group, Inc. has a 1-year low of $71.39 and a 1-year high of $91.97. The stock has a market capitalization 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. The company has a fifty day moving average price of $86.38 and a 200-day moving average price of $82.45. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings data 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). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the business earned $1.72 earnings per share. As a group, equities analysts predict that Principal Financial Group, Inc. will post 7.04 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend 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 (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.