Forsta AP Fonden Buys 13,600 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Forsta AP Fonden increased its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 27.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,200 shares of the company's stock after buying an additional 13,600 shares during the period. Forsta AP Fonden's holdings in Principal Financial Group were worth $5,429,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. EdgeRock Capital LLC purchased a new stake in Principal Financial Group during the second quarter valued at about $26,000. Strategic Financial Concepts LLC purchased a new stake in Principal Financial Group during the second quarter valued at about $32,000. Family Firm Inc. bought a new position in shares of Principal Financial Group during the second quarter valued at about $33,000. Salomon & Ludwin LLC grew its stake in shares of Principal Financial Group by 319.3% during the first 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. Finally, Innealta Capital LLC bought a new position in shares of Principal Financial Group during the second quarter valued at about $43,000. Hedge funds and other institutional investors own 75.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PFG shares. Bank of America reduced their price objective 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. Royal Bank of Canada raised their target price on Principal Financial Group from $83.00 to $87.00 and gave the stock a "sector perform" rating in a research note on Monday, July 29th. JPMorgan Chase & Co. raised Principal Financial Group from an "underweight" rating to a "neutral" rating and raised their target price for the stock from $88.00 to $96.00 in a research note on Tuesday, July 2nd. Piper Sandler raised their target price on Principal Financial Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley cut 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 given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $85.58.

Principal Financial Group Stock Down 0.4 %

Shares of PFG stock traded down $0.33 during trading hours on Tuesday, hitting $84.16. 1,128,673 shares of the company's stock traded hands, compared to its average volume of 1,133,247. Principal Financial Group, Inc. has a 12-month low of $66.71 and a 12-month high of $91.97. The stock has a market cap of $19.49 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 0.88 and a beta of 1.19. The stock's fifty day simple moving average is $84.12 and its two-hundred day simple moving average is $81.75. The company has a quick ratio of 0.29, a current ratio of 0.27 and a debt-to-equity ratio of 0.35.

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 firm had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the previous year, the firm earned $1.72 earnings per share. On average, analysts expect that Principal Financial Group, Inc. will post 7.28 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be issued a $0.73 dividend. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Monday, December 2nd. Principal Financial Group's payout ratio is presently 55.73%.

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.