GoalVest Advisory LLC Buys 960 Shares of Principal Financial Group, Inc. (NYSE:PFG)

GoalVest Advisory LLC grew its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 5.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 18,024 shares of the company’s stock after acquiring an additional 960 shares during the quarter. GoalVest Advisory LLC’s holdings in Principal Financial Group were worth $1,548,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sei Investments Co. raised its position in shares of Principal Financial Group by 59.4% during the first 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 during the period. Blair William & Co. IL raised its position in shares of Principal Financial Group by 7.5% during the first quarter. Blair William & Co. IL now owns 4,905 shares of the company’s stock worth $423,000 after purchasing an additional 342 shares during the period. 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 worth $6,071,000 after purchasing an additional 6,375 shares during the period. Jacobi Capital Management LLC raised its position in shares of Principal Financial Group by 3.1% during the first quarter. Jacobi Capital Management LLC now owns 5,301 shares of the company’s stock worth $458,000 after purchasing an additional 160 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Principal Financial Group during the first quarter worth about $618,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Up 0.2 %

PFG stock opened at $86.56 on Friday. 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 $85.60 and a two-hundred day moving average price of $82.22. The company has a market cap of $19.80 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 1.00 and a beta of 1.20. Principal Financial Group, Inc. has a twelve month low of $71.37 and a twelve month high of $91.97.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results 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). The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned $1.72 earnings per share. Analysts anticipate that Principal Financial Group, Inc. will post 7.09 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.73 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Monday, December 2nd. Principal Financial Group’s payout ratio is currently -320.00%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PFG shares. Wells Fargo & Company raised their price target on 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. Keefe, Bruyette & Woods dropped their target price on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. Piper Sandler lifted their target price on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Bank of America dropped their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Finally, Royal Bank of Canada lifted their target price on Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus 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.