Brooklyn Investment Group Grows Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Brooklyn Investment Group lifted its position in Principal Financial Group, Inc. (NYSE:PFG) by 7.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,305 shares of the company’s stock after buying an additional 235 shares during the quarter. Brooklyn Investment Group’s holdings in Principal Financial Group were worth $284,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. EdgeRock Capital LLC purchased a new stake in Principal Financial Group during the second quarter worth about $26,000. Strategic Financial Concepts LLC acquired a new stake in Principal Financial Group during the 2nd quarter worth approximately $32,000. Family Firm Inc. purchased a new position in Principal Financial Group in the 2nd quarter valued at approximately $33,000. Peterson Financial Group Inc. acquired a new position in shares of Principal Financial Group in the third quarter worth $33,000. Finally, Innealta Capital LLC purchased a new stake in shares of Principal Financial Group during the second quarter worth $43,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Down 0.3 %

PFG stock opened at $86.79 on Wednesday. The company has a market cap of $19.85 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.01 and a beta of 1.20. The company has a fifty day moving average price of $86.28 and a 200 day moving average price of $82.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 12 month low of $71.39 and a 12 month high of $91.97.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, October 24th. The company reported $1.76 EPS 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 business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the previous year, the company posted $1.72 earnings per share. Sell-side analysts expect that Principal Financial Group, Inc. will post 7.04 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued 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 3.36%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s payout ratio is presently -320.00%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Keefe, Bruyette & Woods lowered their target price on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Piper Sandler boosted their price objective 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. Bank of America reduced their target price on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company boosted their price target on shares of Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, Morgan Stanley reduced their price objective on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Two 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 stock. According to MarketBeat.com, Principal Financial Group has an average rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Company 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.