RIA Advisory Group LLC Makes New Investment in Principal Financial Group, Inc. (NYSE:PFG)

RIA Advisory Group LLC acquired a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,421 shares of the company's stock, valued at approximately $638,000.

A number of other institutional investors and hedge funds have also modified their holdings of PFG. Cetera Investment Advisers grew its position in Principal Financial Group by 108.1% in the first quarter. Cetera Investment Advisers now owns 53,579 shares of the company's stock valued at $4,624,000 after acquiring an additional 27,827 shares during the period. Sei Investments Co. grew its position in Principal Financial Group by 59.4% in the first quarter. Sei Investments Co. now owns 24,275 shares of the company's stock valued at $2,095,000 after acquiring an additional 9,048 shares during the period. SG Americas Securities LLC grew its position in Principal Financial Group by 57.3% in the second quarter. SG Americas Securities LLC now owns 178,635 shares of the company's stock valued at $14,014,000 after acquiring an additional 65,070 shares during the period. Tidal Investments LLC grew its position in Principal Financial Group by 54.2% in the first quarter. Tidal Investments LLC now owns 26,847 shares of the company's stock valued at $2,317,000 after acquiring an additional 9,432 shares during the period. Finally, Acadian Asset Management LLC grew its position in Principal Financial Group by 10.0% in the first quarter. Acadian Asset Management LLC now owns 70,380 shares of the company's stock valued at $6,071,000 after acquiring an additional 6,375 shares during the period. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Trading Up 0.2 %

Shares of PFG traded up $0.20 during trading hours on Friday, hitting $86.56. 3,581,452 shares of the stock traded hands, compared to its average volume of 1,143,378. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 1-year low of $71.37 and a 1-year high of $91.97. The firm has a market capitalization of $19.80 billion, a PE ratio of -96.18, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. The business has a fifty day moving average of $85.60 and a 200-day moving average of $82.20.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings results 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). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the company earned $1.72 EPS. Analysts expect that Principal Financial Group, Inc. will post 7.12 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be 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 is Monday, December 2nd. This represents a $2.92 annualized dividend and a yield of 3.37%. Principal Financial Group's dividend payout ratio is presently -320.00%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PFG shares. Wells Fargo & Company upped their price target on Principal Financial Group from $85.00 to $86.00 and gave the company an "equal weight" rating in a research report on Thursday, October 10th. Barclays increased their target price on Principal Financial Group from $75.00 to $77.00 and gave the stock an "underweight" rating in a report on Friday, October 25th. Morgan Stanley decreased their target price on Principal Financial Group from $85.00 to $83.00 and set an "equal weight" rating on the stock in a report on Monday, August 19th. Citigroup increased their target price on Principal Financial Group from $68.00 to $70.00 and gave the stock a "sell" rating in a report on Tuesday, July 23rd. Finally, Bank of America decreased their target price on Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating on the stock in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $85.58.

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.