GoalVest Advisory LLC Has $1.55 Million Stake in Principal Financial Group, Inc. (NYSE:PFG)

GoalVest Advisory LLC lifted its position in Principal Financial Group, Inc. (NYSE:PFG) by 5.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,024 shares of the company’s stock after purchasing an additional 960 shares during the quarter. GoalVest Advisory LLC’s holdings in Principal Financial Group were worth $1,548,000 at the end of the most recent reporting period.

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

Principal Financial Group Price Performance

Principal Financial Group stock opened at $86.56 on Friday. The business’s 50-day simple moving average is $85.60 and its 200 day simple moving average is $82.22. The stock has a market cap of $19.80 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 1.00 and a beta of 1.20. Principal Financial Group, Inc. has a 12-month low of $71.37 and a 12-month high of $91.97. 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) last posted 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). The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same quarter in the prior year, the business earned $1.72 EPS. As a group, research analysts anticipate that Principal Financial Group, Inc. will post 7.09 earnings per share 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 issued a dividend of $0.73 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a yield of 3.37%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio (DPR) is -320.00%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PFG. Piper Sandler increased their price objective 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. 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. Royal Bank of Canada increased their target price on Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods decreased their target price on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Finally, 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. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Principal Financial Group presently has an average rating of “Hold” and a consensus price target of $85.58.

About Principal Financial Group

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.