IHT Wealth Management LLC Makes New Investment in Principal Financial Group, Inc. (NYSE:PFG)

IHT Wealth Management LLC purchased a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,511 shares of the company's stock, valued at approximately $643,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in shares of Principal Financial Group by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,905,124 shares of the company's stock worth $306,393,000 after purchasing an additional 39,854 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Principal Financial Group by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 1,903,138 shares of the company's stock worth $149,301,000 after buying an additional 53,516 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Principal Financial Group by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,403,689 shares of the company's stock valued at $120,577,000 after buying an additional 18,801 shares in the last quarter. AustralianSuper Pty Ltd raised its holdings in shares of Principal Financial Group by 27.2% in the 3rd quarter. AustralianSuper Pty Ltd now owns 540,212 shares of the company's stock valued at $46,404,000 after buying an additional 115,569 shares during the period. Finally, Bank of Montreal Can raised its holdings in shares of Principal Financial Group by 41.0% in the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company's stock valued at $43,367,000 after buying 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 equities analysts have weighed in on the company. Morgan Stanley reaffirmed an "underweight" rating and issued a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a research report on Thursday. Bank of America dropped their price objective on shares of Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating for the company in a report on Thursday, October 10th. Royal Bank of Canada increased their target price on shares of Principal Financial Group from $87.00 to $91.00 and gave the stock a "sector perform" rating in a report on Tuesday, November 19th. Piper Sandler boosted 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, Wells Fargo & Company increased their target price on Principal Financial Group from $85.00 to $86.00 and gave the company an "equal weight" rating in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Principal Financial Group currently has an average rating of "Hold" and a consensus target price of $85.67.

Principal Financial Group Trading Up 0.8 %

Principal Financial Group stock traded up $0.65 during midday trading on Friday, hitting $84.40. 1,399,801 shares of the stock were exchanged, compared to its average volume of 1,116,869. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.97. 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 stock has a market capitalization of $19.30 billion, a PE ratio of -93.78, a P/E/G ratio of 0.99 and a beta of 1.20. The company has a fifty day simple moving average of $86.31 and a two-hundred day simple moving average of $82.47.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced 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 company 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 in the previous year, the firm posted $1.72 EPS. Equities research analysts anticipate that Principal Financial Group, Inc. will post 7.04 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a $0.73 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a yield of 3.46%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.72. Principal Financial Group's dividend payout ratio (DPR) is -324.44%.

Principal Financial Group Company 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.