Peterson Financial Group Inc. Invests $33,000 in Principal Financial Group, Inc. (NYSE:PFG)

Peterson Financial Group Inc. acquired a new stake in Principal Financial Group, Inc. (NYSE:PFG) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 385 shares of the company’s stock, valued at approximately $33,000.

A number of other large investors have also bought and sold shares of PFG. EdgeRock Capital LLC bought a new position in Principal Financial Group in the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC acquired a new stake in shares of Principal Financial Group during the second quarter worth $32,000. Family Firm Inc. bought a new stake in Principal Financial Group in the 2nd quarter valued at $33,000. Innealta Capital LLC acquired a new position in Principal Financial Group in the 2nd quarter worth $43,000. Finally, MCF Advisors LLC increased its holdings in 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 in the last quarter. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Price Performance

NYSE:PFG opened at $86.56 on Friday. Principal Financial Group, Inc. has a 12-month low of $71.37 and a 12-month high of $91.97. The firm has a market capitalization 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. The stock’s 50 day moving average price is $85.60 and its two-hundred day moving average price is $82.22. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.26). The business had revenue of $3.01 billion for 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 in the prior year, the business earned $1.72 EPS. On average, analysts anticipate that Principal Financial Group, Inc. will post 7.09 earnings per share for the current year.

Principal Financial Group Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PFG shares. Citigroup boosted their price target on Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a report on Tuesday, July 23rd. Bank of America cut their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Piper Sandler raised their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods cut their price objective on shares of 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. Finally, Barclays raised their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Principal Financial Group 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.