Resurgent Financial Advisors LLC Invests $217,000 in Principal Financial Group, Inc. (NYSE:PFG)

Resurgent Financial Advisors LLC purchased a new position in shares of Principal Financial Group, Inc. (NYSE:PFG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,532 shares of the company’s stock, valued at approximately $217,000.

Other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC raised its stake in Principal Financial Group by 2.2% during the second quarter. Farther Finance Advisors LLC now owns 6,325 shares of the company’s stock worth $493,000 after buying an additional 135 shares during the last quarter. Ballentine Partners LLC raised its stake in Principal Financial Group by 5.0% during the second quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock worth $228,000 after buying an additional 138 shares during the last quarter. Graypoint LLC raised its stake in Principal Financial Group by 5.6% during the second quarter. Graypoint LLC now owns 2,654 shares of the company’s stock worth $208,000 after buying an additional 140 shares during the last quarter. Prime Capital Investment Advisors LLC raised its stake in Principal Financial Group by 2.3% during the third quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock worth $546,000 after buying an additional 142 shares during the last quarter. Finally, Empirical Finance LLC raised its stake in Principal Financial Group by 1.8% during the third quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock worth $676,000 after buying an additional 142 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Down 1.3 %

Principal Financial Group stock opened at $83.75 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market cap of $19.16 billion, a PE ratio of -93.05, a price-to-earnings-growth ratio of 0.99 and a beta of 1.20. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. The firm’s 50-day simple moving average is $86.35 and its 200 day simple moving average is $82.48.

Principal Financial Group (NYSE:PFG) last issued 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). 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 positive return on equity of 14.67% and a negative net margin of 1.47%. During the same period in the previous year, the company earned $1.72 EPS. Research analysts predict that Principal Financial Group, Inc. will post 7.04 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. Stockholders of record on Monday, December 2nd will be paid a $0.73 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.49%. Principal Financial Group’s payout ratio is currently -324.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PFG shares. Barclays lifted their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Royal Bank of Canada lifted 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 note on Tuesday, November 19th. Morgan Stanley reaffirmed an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research note on Thursday. Piper Sandler lifted their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company lifted their price objective 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. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Principal Financial Group presently has a consensus rating of “Hold” and a consensus target price of $85.67.

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.