EP Wealth Advisors LLC Takes $857,000 Position in Principal Financial Group, Inc. (NYSE:PFG)

EP Wealth Advisors LLC bought a new position in Principal Financial Group, Inc. (NYSE:PFG) in the third quarter, according to its most recent filing with the SEC. The firm bought 9,982 shares of the company’s stock, valued at approximately $857,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. EdgeRock Capital LLC purchased a new stake in shares of Principal Financial Group in the 2nd quarter valued at $26,000. Strategic Financial Concepts LLC acquired a new stake in Principal Financial Group during the 2nd quarter worth about $32,000. Family Firm Inc. purchased a new position in shares of Principal Financial Group during the 2nd quarter valued at about $33,000. Peterson Financial Group Inc. purchased a new position in shares of Principal Financial Group during the 3rd quarter valued at about $33,000. Finally, Innealta Capital LLC acquired a new position in shares of Principal Financial Group in the 2nd quarter valued at about $43,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

Shares of PFG opened at $80.74 on Wednesday. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97. The stock has a market capitalization of $18.47 billion, a PE ratio of -89.71, a PEG ratio of 0.98 and a beta of 1.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a 50-day simple moving average of $86.25 and a 200-day simple moving average of $82.48.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.76 EPS 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 firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the firm earned $1.72 EPS. On average, analysts predict that Principal Financial Group, Inc. will post 7.03 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 3.62%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. Principal Financial Group’s payout ratio is -324.44%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PFG shares. Bank of America reduced their price target on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Piper Sandler boosted their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company raised their price target on shares of 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. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Finally, Royal Bank of Canada raised their target price on Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 19th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $85.67.

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.