Frank Rimerman Advisors LLC Buys Shares of 8,951 Principal Financial Group, Inc. (NYSE:PFG)

Frank Rimerman Advisors LLC acquired a new position 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 and Exchange Commission (SEC). The institutional investor acquired 8,951 shares of the company's stock, valued at approximately $769,000.

A number of other large investors have also recently made changes to their positions in the business. EdgeRock Capital LLC bought a new position in Principal Financial Group in the 2nd quarter valued at about $26,000. Family Firm Inc. bought a new stake in Principal Financial Group during the second quarter worth $33,000. Salomon & Ludwin LLC raised its position in Principal Financial Group by 319.3% in the 1st quarter. Salomon & Ludwin LLC now owns 499 shares of the company's stock valued at $43,000 after buying an additional 380 shares during the last quarter. Innealta Capital LLC bought a new position in Principal Financial Group during the 2nd quarter valued at $43,000. Finally, MCF Advisors LLC boosted its holdings in Principal Financial Group by 55.6% during the 2nd quarter. MCF Advisors LLC now owns 613 shares of the company's stock worth $48,000 after acquiring an additional 219 shares during the last quarter. 75.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PFG shares. Jefferies Financial Group raised their price target on shares of Principal Financial Group from $73.00 to $76.00 and gave the company a "hold" rating in a research report on Thursday, July 18th. Raymond James raised Principal Financial Group from a "market perform" rating to a "strong-buy" rating and set a $99.00 target price for the company in a report on Tuesday, July 9th. Barclays lifted their price target on Principal Financial Group from $75.00 to $77.00 and gave the stock an "underweight" rating in a report on Friday. Wells Fargo & Company upped their price objective on Principal Financial Group from $85.00 to $86.00 and gave the company an "equal weight" rating in a research note on Thursday, October 10th. Finally, Citigroup boosted their price target on shares of Principal Financial Group from $68.00 to $70.00 and gave the stock a "sell" rating in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $85.58.

Principal Financial Group Price Performance

PFG stock traded up $0.78 during mid-day trading on Monday, reaching $84.49. 1,379,426 shares of the company traded hands, compared to its average volume of 1,133,270. The company has a fifty day moving average price of $84.00 and a 200-day moving average price of $81.72. Principal Financial Group, Inc. has a 52-week low of $66.71 and a 52-week high of $91.97. The company has a market capitalization of $19.57 billion, a P/E ratio of 12.19, a P/E/G ratio of 0.88 and a beta of 1.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.27 and a quick ratio of 0.29.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its 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). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the company posted $1.72 EPS. As a group, analysts anticipate that Principal Financial Group, Inc. will post 7.28 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently disclosed 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. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.46%. 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 -320.00%.

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.