Centric Wealth Management Increases Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Centric Wealth Management raised its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,834 shares of the company’s stock after acquiring an additional 1,060 shares during the period. Centric Wealth Management’s holdings in Principal Financial Group were worth $2,225,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. EdgeRock Capital LLC purchased a new position in shares of Principal Financial Group in the 2nd quarter worth approximately $26,000. Strategic Financial Concepts LLC bought a new position in shares of Principal Financial Group during the 2nd quarter valued at approximately $32,000. Family Firm Inc. bought a new stake in shares of Principal Financial Group in the 2nd quarter worth approximately $33,000. Peterson Financial Group Inc. purchased a new position in Principal Financial Group in the third quarter valued at approximately $33,000. Finally, Innealta Capital LLC purchased a new stake in Principal Financial Group in the second quarter worth $43,000. Institutional investors own 75.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PFG. Morgan Stanley decreased their price objective 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. Wells Fargo & Company increased their price objective on Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Piper Sandler upped 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. Barclays lifted 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, Royal Bank of Canada increased 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $85.92.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock opened at $87.28 on Friday. The business has a 50 day moving average of $86.38 and a 200 day moving average of $82.45. Principal Financial Group, Inc. has a 52 week low of $71.39 and a 52 week high of $91.97. The company has a market cap of $19.96 billion, a PE ratio of 12.70, a P/E/G ratio of 1.02 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 announced its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.26). The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations 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 firm earned $1.72 EPS. As a group, equities research analysts forecast that Principal Financial Group, Inc. will post 7.04 earnings per share for the current 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 $0.73 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a yield of 3.35%. Principal Financial Group’s dividend payout ratio is -320.00%.

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.