523 Shares in Principal Financial Group, Inc. (NYSE:PFG) Acquired by Prospera Private Wealth LLC

Prospera Private Wealth LLC purchased 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 purchased 523 shares of the company’s stock, valued at approximately $45,000.

A number of other large investors also recently made changes to their positions in PFG. Farther Finance Advisors LLC lifted its position in Principal Financial Group by 2.2% during the second quarter. Farther Finance Advisors LLC now owns 6,325 shares of the company’s stock worth $493,000 after buying an additional 135 shares during the period. Ballentine Partners LLC lifted its holdings in shares of Principal Financial Group by 5.0% during the 2nd quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock worth $228,000 after acquiring an additional 138 shares during the period. Graypoint LLC grew its holdings in Principal Financial Group by 5.6% in the second quarter. Graypoint LLC now owns 2,654 shares of the company’s stock valued at $208,000 after purchasing an additional 140 shares during the period. Prime Capital Investment Advisors LLC raised its stake in Principal Financial Group by 2.3% during the third quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock worth $546,000 after purchasing an additional 142 shares during the period. Finally, Empirical Finance LLC boosted its holdings in shares of Principal Financial Group by 1.8% in the 3rd quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock valued at $676,000 after purchasing an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Principal Financial Group stock opened at $85.73 on Friday. Principal Financial Group, Inc. has a 12-month low of $71.39 and a 12-month high of $91.97. 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 company has a market capitalization of $19.61 billion, a price-to-earnings ratio of -95.26, a price-to-earnings-growth ratio of 0.97 and a beta of 1.20. The firm’s fifty day moving average price is $86.12 and its 200 day moving average price is $82.35.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate 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 business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the firm posted $1.72 EPS. On average, research analysts forecast that Principal Financial Group, Inc. will post 7.09 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders 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 represents a $2.92 dividend on an annualized basis and a dividend yield of 3.41%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio (DPR) is presently -324.44%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PFG shares. Wells Fargo & Company lifted their target price on Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Royal Bank of Canada boosted their target price on Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a report on Tuesday. Morgan Stanley cut their price target 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. Bank of America reduced their price target on shares of 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, Piper Sandler increased their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.