Farther Finance Advisors LLC Raises Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Farther Finance Advisors LLC raised its position in Principal Financial Group, Inc. (NYSE:PFG) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,584 shares of the company’s stock after buying an additional 259 shares during the quarter. Farther Finance Advisors LLC’s holdings in Principal Financial Group were worth $566,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in 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 purchased a new stake in shares of Principal Financial Group during the second quarter worth approximately $32,000. Family Firm Inc. purchased a new stake in shares of Principal Financial Group during the second quarter worth approximately $33,000. Innealta Capital LLC purchased a new stake in shares of Principal Financial Group during the second quarter worth approximately $43,000. Finally, MCF Advisors LLC raised its stake in shares of Principal Financial Group by 55.6% during the second quarter. MCF Advisors LLC now owns 613 shares of the company’s stock worth $48,000 after purchasing an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Up 4.3 %

Principal Financial Group stock opened at $86.14 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market capitalization of $19.70 billion, a price-to-earnings ratio of -95.71, a price-to-earnings-growth ratio of 0.94 and a beta of 1.20. Principal Financial Group, Inc. has a fifty-two week low of $68.69 and a fifty-two week high of $91.97. The stock’s fifty day moving average is $84.76 and its two-hundred day moving average is $81.93.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share 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 analyst estimates 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 period last year, the company posted $1.72 EPS. Analysts predict that Principal Financial Group, Inc. will post 7.12 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed 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 represents a $2.92 dividend on an annualized basis and a dividend yield of 3.39%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio (DPR) is presently -320.00%.

Analyst Ratings Changes

PFG has been the subject of several analyst reports. Piper Sandler upped their price target 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. Jefferies Financial Group upped their price target on Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Royal Bank of Canada increased their price objective 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. Keefe, Bruyette & Woods cut their price objective on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. Finally, Citigroup increased their price objective on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a research report on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.