Larson Financial Group LLC Purchases 385 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Larson Financial Group LLC boosted its position in Principal Financial Group, Inc. (NYSE:PFG) by 132.8% in the third quarter, Holdings Channel.com reports. The firm owned 675 shares of the company’s stock after buying an additional 385 shares during the quarter. Larson Financial Group LLC’s holdings in Principal Financial Group were worth $58,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PFG. Sompo Asset Management Co. Ltd. increased its stake in shares of Principal Financial Group by 5.6% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 6,820 shares of the company’s stock worth $586,000 after acquiring an additional 360 shares in the last quarter. Palisade Asset Management LLC grew its holdings in Principal Financial Group by 2.1% in the third quarter. Palisade Asset Management LLC now owns 6,946 shares of the company’s stock worth $597,000 after purchasing an additional 146 shares during the period. Cerity Partners LLC increased its stake in shares of Principal Financial Group by 12.3% during the third quarter. Cerity Partners LLC now owns 30,042 shares of the company’s stock valued at $2,581,000 after purchasing an additional 3,281 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Principal Financial Group by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,403,689 shares of the company’s stock valued at $120,577,000 after purchasing an additional 18,801 shares during the last quarter. Finally, Blackhawk Capital Partners LLC. bought a new stake in shares of Principal Financial Group in the 3rd quarter worth approximately $209,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

PFG has been the subject of a number of analyst reports. Barclays raised their price objective on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Morgan Stanley lowered their price target on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Piper Sandler increased their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada lifted their target price on shares of Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 19th. Finally, Wells Fargo & Company increased their price target 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 equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $85.92.

Principal Financial Group Price Performance

Shares of PFG opened at $87.09 on Friday. The firm has a market cap of $19.92 billion, a PE ratio of -96.77, a P/E/G ratio of 1.02 and a beta of 1.20. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.97. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $86.41 and a two-hundred day simple moving average of $82.48.

Principal Financial Group (NYSE:PFG) last posted its 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 firm 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 period in the prior year, the company posted $1.72 EPS. On average, equities analysts anticipate that Principal Financial Group, Inc. will post 7.04 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors 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. 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 3.35%. Principal Financial Group’s dividend payout ratio (DPR) is presently -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.