45,524 Shares in Principal Financial Group, Inc. (NYSE:PFG) Bought by Unigestion Holding SA

Unigestion Holding SA purchased a new stake in Principal Financial Group, Inc. (NYSE:PFG) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 45,524 shares of the company’s stock, valued at approximately $3,911,000.

Other hedge funds also recently bought and sold shares of the company. EdgeRock Capital LLC purchased a new stake in shares of Principal Financial Group during the second quarter worth approximately $26,000. Strategic Financial Concepts LLC acquired a new position in Principal Financial Group during the 2nd quarter worth approximately $32,000. Family Firm Inc. purchased a new stake in shares of Principal Financial Group in the 2nd quarter valued at approximately $33,000. Peterson Financial Group Inc. acquired a new stake in shares of Principal Financial Group in the 3rd quarter valued at $33,000. Finally, Innealta Capital LLC purchased a new stake in shares of Principal Financial Group during the 2nd quarter worth $43,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

NYSE:PFG opened at $80.74 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market cap of $18.47 billion, a price-to-earnings ratio of -89.71, a price-to-earnings-growth ratio of 0.98 and a beta of 1.20. The firm’s fifty day moving average price is $86.25 and its 200 day moving average price is $82.48. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.97.

Principal Financial Group (NYSE:PFG) last issued its quarterly 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 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 earnings per share. On average, sell-side analysts expect that Principal Financial Group, Inc. will post 7.03 EPS for the current year.

Principal Financial Group Increases Dividend

The firm 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. 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 3.62%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio (DPR) is -324.44%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PFG shares. Piper Sandler raised their price target on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada increased their price objective on Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. Morgan Stanley restated an “underweight” rating and set a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Bank of America lowered their price target on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Finally, Wells Fargo & Company reissued an “underweight” rating and set a $75.00 price objective (down previously from $84.00) on shares of Principal Financial Group in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently 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.