WCM Investment Management LLC Invests $265,000 in Principal Financial Group, Inc. (NYSE:PFG)

WCM Investment Management LLC purchased a new position in shares of Principal Financial Group, Inc. (NYSE:PFG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,081 shares of the company’s stock, valued at approximately $265,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new position in shares of Principal Financial Group during the 2nd quarter worth approximately $26,000. Family Firm Inc. purchased a new position in Principal Financial Group in the second quarter worth $33,000. Innealta Capital LLC acquired a new stake in Principal Financial Group in the second quarter valued at $43,000. Capital Performance Advisors LLP purchased a new stake in shares of Principal Financial Group during the 3rd quarter worth $50,000. Finally, MCF Advisors LLC grew its stake in shares of Principal Financial Group by 55.6% during the 2nd quarter. MCF Advisors LLC now owns 613 shares of the company’s stock worth $48,000 after purchasing an additional 219 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Analyst Ratings Changes

PFG has been the subject of several recent analyst reports. Jefferies Financial Group raised their price objective on shares of Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Citigroup lifted their price target on shares of Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a research report on Tuesday, July 23rd. Bank of America dropped their price objective on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Piper Sandler boosted their target price on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods lowered 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $85.58.

Principal Financial Group Trading Down 0.1 %

Principal Financial Group stock opened at $87.11 on Wednesday. The stock has a market cap of $19.92 billion, a PE ratio of -96.79, a P/E/G ratio of 0.98 and a beta of 1.20. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average price of $85.06 and a 200 day moving average price of $82.04. Principal Financial Group, Inc. has a 52 week low of $68.96 and a 52 week high of $91.97.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the firm earned $1.72 EPS. Equities research analysts predict that Principal Financial Group, Inc. will post 7.12 earnings per share 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. Stockholders of record on Monday, December 2nd will be given a $0.73 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.35%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s payout ratio is currently -320.00%.

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.