Prime Capital Investment Advisors LLC Increases Position in Principal Financial Group, Inc. (NYSE:PFG)

Prime Capital Investment Advisors LLC lifted its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 2.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,358 shares of the company’s stock after buying an additional 142 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Principal Financial Group were worth $546,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Cetera Investment Advisers raised its holdings in Principal Financial Group by 108.1% during the first quarter. Cetera Investment Advisers now owns 53,579 shares of the company’s stock valued at $4,624,000 after acquiring an additional 27,827 shares during the period. Sei Investments Co. lifted its holdings in Principal Financial Group by 59.4% in the 1st quarter. Sei Investments Co. now owns 24,275 shares of the company’s stock worth $2,095,000 after purchasing an additional 9,048 shares in the last quarter. SG Americas Securities LLC boosted its stake in Principal Financial Group by 57.3% in the 2nd quarter. SG Americas Securities LLC now owns 178,635 shares of the company’s stock worth $14,014,000 after purchasing an additional 65,070 shares during the period. Tidal Investments LLC grew its holdings in Principal Financial Group by 54.2% during the 1st quarter. Tidal Investments LLC now owns 26,847 shares of the company’s stock valued at $2,317,000 after buying an additional 9,432 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Principal Financial Group by 10.0% during the first quarter. Acadian Asset Management LLC now owns 70,380 shares of the company’s stock valued at $6,071,000 after buying an additional 6,375 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Price Performance

NYSE:PFG opened at $86.56 on Friday. The firm has a market capitalization of $19.80 billion, a price-to-earnings ratio of -96.18, a PEG ratio of 1.00 and a beta of 1.20. 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 business has a 50 day simple moving average of $85.42 and a 200-day simple moving average of $82.15. Principal Financial Group, Inc. has a 1 year low of $71.37 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 company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the business earned $1.72 earnings per share. Equities analysts forecast that Principal Financial Group, Inc. will post 7.12 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a dividend of $0.73 per share. The ex-dividend date is Monday, December 2nd. 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 3.37%. Principal Financial Group’s payout ratio is currently -320.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PFG shares. Wells Fargo & Company upped their target price on shares of Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Piper Sandler increased their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Citigroup lifted 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 boosted their target price on Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Finally, Bank of America cut 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Principal Financial Group presently has an average rating of “Hold” and an average price target of $85.58.

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.