Bridgewater Associates LP Acquires 85,575 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Bridgewater Associates LP lifted its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 86.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 184,083 shares of the company’s stock after acquiring an additional 85,575 shares during the period. Bridgewater Associates LP’s holdings in Principal Financial Group were worth $15,813,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Transamerica Financial Advisors Inc. grew its position in shares of Principal Financial Group by 6.6% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,490 shares of the company’s stock worth $300,000 after purchasing an additional 215 shares in the last quarter. Brooklyn Investment Group grew its stake in Principal Financial Group by 7.7% during the third quarter. Brooklyn Investment Group now owns 3,305 shares of the company’s stock worth $284,000 after buying an additional 235 shares in the last quarter. Bank of Montreal Can increased its holdings in Principal Financial Group by 41.0% in the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock valued at $43,367,000 after buying an additional 146,473 shares during the period. Truvestments Capital LLC bought a new stake in shares of Principal Financial Group during the 3rd quarter worth approximately $43,000. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Principal Financial Group by 7.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,006 shares of the company’s stock worth $258,000 after acquiring an additional 218 shares in the last quarter. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Stock Up 0.6 %

Shares of NYSE PFG opened at $87.28 on Thursday. Principal Financial Group, Inc. has a 1 year low of $71.39 and a 1 year high of $91.97. The stock has a market capitalization of $19.96 billion, a P/E ratio of -96.98, a P/E/G ratio of 1.01 and a beta of 1.20. 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 50-day moving average price of $86.35 and a 200-day moving average price of $82.42.

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 company 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 quarter in the prior year, the business earned $1.72 EPS. On average, equities research analysts forecast that Principal Financial Group, Inc. will post 7.04 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 3.35%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. Principal Financial Group’s payout ratio is currently -324.44%.

Wall Street Analysts Forecast Growth

PFG has been the subject of several research analyst reports. Barclays boosted their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Piper Sandler lifted their price objective on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada upped their price target on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 19th. Morgan Stanley lowered their target price on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Finally, Wells Fargo & Company increased their price target on Principal Financial Group from $85.00 to $86.00 and gave the stock 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 issued a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group 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.