Worldquant Millennium Advisors LLC Grows Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Worldquant Millennium Advisors LLC raised its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 34.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 140,831 shares of the company's stock after buying an additional 36,338 shares during the quarter. Worldquant Millennium Advisors LLC owned about 0.06% of Principal Financial Group worth $12,097,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of PFG. EdgeRock Capital LLC acquired a new position in shares of Principal Financial Group during the second quarter worth about $26,000. Peterson Financial Group Inc. acquired a new position in Principal Financial Group during the 3rd quarter worth approximately $33,000. Family Firm Inc. acquired a new position in Principal Financial Group during the 2nd quarter worth approximately $33,000. Truvestments Capital LLC purchased a new position in shares of Principal Financial Group during the 3rd quarter worth approximately $43,000. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Principal Financial Group in the 3rd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 75.08% of the company's stock.

Analysts Set New Price Targets

PFG has been the topic of a number of recent analyst reports. Barclays upped their price objective 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 reaffirmed an "underweight" rating and set a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research note on Thursday. Wells Fargo & Company raised their price objective on shares of 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. Royal Bank of Canada upped 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 research report on Tuesday, November 19th. Finally, Piper Sandler increased their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $85.67.

Principal Financial Group Price Performance

Shares of PFG stock traded up $0.65 during trading hours on Friday, hitting $84.40. The company's stock had a trading volume of 1,399,801 shares, compared to its average volume of 1,116,869. 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 twelve month low of $72.21 and a twelve month high of $91.97. The stock has a market cap of $19.30 billion, a price-to-earnings ratio of -93.78, a P/E/G ratio of 0.99 and a beta of 1.20. The business has a fifty day moving average of $86.31 and a 200-day moving average of $82.48.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $3.92 billion. During the same period in the previous year, the business posted $1.72 EPS. As a group, equities research analysts anticipate that Principal Financial Group, Inc. will post 7.04 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 3.46%. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. Principal Financial Group's dividend payout ratio is -324.44%.

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.