Principal Financial Group Inc. Has $19.87 Million Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Principal Financial Group Inc. boosted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 3.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 231,277 shares of the company's stock after purchasing an additional 6,817 shares during the quarter. Principal Financial Group Inc. owned approximately 0.10% of Principal Financial Group worth $19,867,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC bought a new position in shares of Principal Financial Group during the second quarter worth about $32,000. Peterson Financial Group Inc. acquired a new position in Principal Financial Group during the 3rd quarter valued at about $33,000. Innealta Capital LLC bought a new position in Principal Financial Group in the 2nd quarter worth about $43,000. Truvestments Capital LLC acquired a new stake in shares of Principal Financial Group in the third quarter valued at approximately $43,000. Finally, Prospera Private Wealth LLC bought a new stake in shares of Principal Financial Group during the third quarter valued at approximately $45,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Price Performance

Principal Financial Group stock traded down $0.63 during mid-day trading on Friday, hitting $77.71. The company's stock had a trading volume of 726,769 shares, compared to its average volume of 1,151,548. The stock has a market capitalization of $17.77 billion, a P/E ratio of -86.34, a P/E/G ratio of 0.92 and a beta of 1.20. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.97. The stock's fifty day moving average price is $83.47 and its two-hundred day moving average price is $82.20. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its earnings results 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 positive return on equity of 14.67% and a negative net margin of 1.47%. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the firm earned $1.72 earnings per share. Research analysts forecast that Principal Financial Group, Inc. will post 7.03 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were paid a $0.73 dividend. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a yield of 3.76%. Principal Financial Group's dividend payout ratio (DPR) is currently -324.44%.

Wall Street Analysts Forecast Growth

PFG has been the subject of a number of recent analyst reports. Royal Bank of Canada increased their price objective on 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 raised Principal Financial Group from a "neutral" rating to an "overweight" rating and set a $90.00 price target for the company in a research note on Wednesday, December 18th. Wells Fargo & Company restated an "underweight" rating and set a $75.00 price objective (down from $84.00) on shares of Principal Financial Group in a research note on Wednesday, December 11th. Morgan Stanley reiterated an "underweight" rating and issued a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Finally, Bank of America dropped their price target on shares of 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. Four research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $84.75.

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.