Farther Finance Advisors LLC Purchases 3,557 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Farther Finance Advisors LLC grew its position in Principal Financial Group, Inc. (NYSE:PFG) by 49.3% during the first quarter, HoldingsChannel reports. The firm owned 10,773 shares of the company’s stock after buying an additional 3,557 shares during the period. Farther Finance Advisors LLC’s holdings in Principal Financial Group were worth $917,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Curio Wealth LLC bought a new position in Principal Financial Group during the fourth quarter worth $29,000. BankPlus Trust Department bought a new position in Principal Financial Group during the fourth quarter worth $33,000. Ameriflex Group Inc. bought a new position in Principal Financial Group during the fourth quarter worth $37,000. Navigoe LLC bought a new position in shares of Principal Financial Group in the fourth quarter valued at $37,000. Finally, Covestor Ltd lifted its stake in shares of Principal Financial Group by 144.3% in the fourth quarter. Covestor Ltd now owns 540 shares of the company’s stock valued at $42,000 after buying an additional 319 shares in the last quarter. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $75.90 on Friday. The firm has a 50-day moving average of $76.32 and a 200-day moving average of $80.05. The company has a market cap of $17.02 billion, a P/E ratio of 11.36, a P/E/G ratio of 0.76 and a beta of 1.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a one year low of $68.39 and a one year high of $91.98.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter in the previous year, the company posted $1.65 earnings per share. Equities research analysts forecast that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Monday, June 2nd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.75. Principal Financial Group’s dividend payout ratio (DPR) is 65.10%.

Analyst Upgrades and Downgrades

PFG has been the topic of a number of recent research reports. Barclays dropped their price objective on shares of Principal Financial Group from $80.00 to $76.00 and set an “underweight” rating on the stock in a research note on Friday, April 11th. UBS Group dropped their price objective on shares of Principal Financial Group from $93.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Keefe, Bruyette & Woods raised their price objective on shares of Principal Financial Group from $86.00 to $87.00 and gave the company a “market perform” rating in a research note on Wednesday, May 7th. Morgan Stanley raised their price objective on shares of Principal Financial Group from $67.00 to $71.00 and gave the company an “underweight” rating in a research note on Monday, May 19th. Finally, Wells Fargo & Company raised their price objective on shares of Principal Financial Group from $68.00 to $69.00 and gave the company an “underweight” rating in a research note on Tuesday, April 29th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Principal Financial Group presently has a consensus rating of “Hold” and an average price target of $83.85.

About Principal Financial Group

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.