Holocene Advisors LP Buys 52,077 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Holocene Advisors LP grew its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 92.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,326 shares of the company's stock after purchasing an additional 52,077 shares during the quarter. Holocene Advisors LP's holdings in Principal Financial Group were worth $9,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in PFG. Benjamin Edwards Inc. bought a new stake in Principal Financial Group during the 3rd quarter worth approximately $382,000. Erste Asset Management GmbH purchased a new stake in shares of Principal Financial Group during the third quarter worth $362,000. Centric Wealth Management raised its position in shares of Principal Financial Group by 4.3% in the third quarter. Centric Wealth Management now owns 25,834 shares of the company's stock worth $2,225,000 after buying an additional 1,060 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of Principal Financial Group by 1.4% in the third quarter. Public Sector Pension Investment Board now owns 37,141 shares of the company's stock worth $3,190,000 after buying an additional 500 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Principal Financial Group by 18.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 115,582 shares of the company's stock worth $9,928,000 after buying an additional 17,931 shares in the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Stock Up 0.0 %

Shares of PFG traded up $0.04 during mid-day trading on Wednesday, reaching $84.84. The company had a trading volume of 1,018,964 shares, compared to its average volume of 1,139,796. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a 50-day moving average price of $86.39 and a 200 day moving average price of $82.47. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.97. The company has a market capitalization of $19.41 billion, a price-to-earnings ratio of -94.27, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20.

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 the consensus estimate of $2.02 by ($0.26). The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate 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 period last year, the company posted $1.72 earnings per share. On average, sell-side analysts forecast that Principal Financial Group, Inc. will post 7.04 EPS 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. Stockholders of record on Monday, December 2nd will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 3.44%. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. Principal Financial Group's dividend payout ratio is -324.44%.

Wall Street Analyst Weigh In

PFG has been the topic of a number of recent analyst reports. Barclays increased their price objective on Principal Financial Group from $75.00 to $77.00 and gave the stock an "underweight" rating in a research report on Friday, October 25th. Piper Sandler increased 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. Royal Bank of Canada increased their target price on Principal Financial Group from $87.00 to $91.00 and gave the company a "sector perform" rating in a research note on Tuesday, November 19th. Bank of America reduced their target price 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. Finally, Morgan Stanley reduced their target price on Principal Financial Group from $85.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Monday, August 19th. Two 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. Based on data from MarketBeat.com, Principal Financial Group presently has an average rating of "Hold" and a consensus price target of $85.92.

Principal Financial Group Profile

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.