Greenwood Capital Associates LLC Increases Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Greenwood Capital Associates LLC raised its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 2.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,359 shares of the company’s stock after purchasing an additional 422 shares during the period. Greenwood Capital Associates LLC’s holdings in Principal Financial Group were worth $1,491,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PFG. EdgeRock Capital LLC bought a new stake in shares of Principal Financial Group in the 2nd quarter valued at about $26,000. Family Firm Inc. purchased a new stake in shares of Principal Financial Group in the 2nd quarter worth approximately $33,000. Salomon & Ludwin LLC increased its holdings in shares of Principal Financial Group by 319.3% during the first quarter. Salomon & Ludwin LLC now owns 499 shares of the company’s stock valued at $43,000 after acquiring an additional 380 shares in the last quarter. Innealta Capital LLC purchased a new position in Principal Financial Group in the second quarter worth about $43,000. Finally, MCF Advisors LLC lifted its position in Principal Financial Group by 55.6% in the 2nd quarter. MCF Advisors LLC now owns 613 shares of the company’s stock valued at $48,000 after acquiring an additional 219 shares in the last quarter. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Down 0.8 %

Shares of Principal Financial Group stock opened at $81.56 on Tuesday. Principal Financial Group, Inc. has a twelve month low of $68.69 and a twelve 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. The business has a 50-day moving average price of $84.58 and a 200-day moving average price of $81.89. The firm has a market cap of $18.66 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 0.95 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data 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). 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 positive return on equity of 14.67% and a negative net margin of 1.47%. During the same period in the previous year, the firm earned $1.72 EPS. Equities research analysts anticipate that Principal Financial Group, Inc. will post 7.12 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed 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 boost from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group’s dividend payout ratio (DPR) is presently -320.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods dropped their target price on shares of 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. Wells Fargo & Company upped their price objective 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. Raymond James raised Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 target price on the stock in a research report on Tuesday, July 9th. Morgan Stanley lowered their price objective on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Finally, Jefferies Financial Group upped their target price on shares of Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $85.58.

Principal Financial Group Company 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.