5,283 Shares in Principal Financial Group, Inc. (NYSE:PFG) Acquired by CWA Asset Management Group LLC

CWA Asset Management Group LLC bought a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,283 shares of the company’s stock, valued at approximately $454,000.

A number of other institutional investors and hedge funds have also modified their holdings of PFG. EdgeRock Capital LLC bought a new stake in Principal Financial Group in the 2nd quarter worth about $26,000. Strategic Financial Concepts LLC bought a new stake in shares of Principal Financial Group in the second quarter worth approximately $32,000. Family Firm Inc. purchased a new position in shares of Principal Financial Group during the second quarter valued at approximately $33,000. Innealta Capital LLC bought a new position in Principal Financial Group during the second quarter valued at approximately $43,000. Finally, MCF Advisors LLC boosted its holdings in Principal Financial Group by 55.6% in 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. Institutional investors own 75.08% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Citigroup increased 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. Piper Sandler raised their target price 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. Jefferies Financial Group upped their price target on shares of Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Barclays raised their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company upped their target price on shares of Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. 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. According to MarketBeat, Principal Financial Group has an average rating of “Hold” and a consensus target price of $85.58.

Principal Financial Group Price Performance

NYSE:PFG opened at $87.21 on Tuesday. The business’s 50-day simple moving average is $84.95 and its two-hundred day simple moving average is $81.99. Principal Financial Group, Inc. has a 52 week low of $68.96 and a 52 week high of $91.97. The stock has a market cap of $19.95 billion, a PE ratio of -94.94, a P/E/G ratio of 0.98 and a beta of 1.20. 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 posted its quarterly 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 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 analysts’ expectations of $3.92 billion. During the same period in the prior year, the firm posted $1.72 earnings per share. As a group, analysts forecast that Principal Financial Group, Inc. will post 7.12 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. Shareholders of record on Monday, December 2nd will be issued a $0.73 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group’s payout ratio is currently -320.00%.

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.