Wilmington Savings Fund Society FSB Takes $114,000 Position in Principal Financial Group, Inc. (NYSE:PFG)

Wilmington Savings Fund Society FSB acquired a new stake in Principal Financial Group, Inc. (NYSE:PFG) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,326 shares of the company’s stock, valued at approximately $114,000.

Other large investors have also recently bought and sold shares of the company. EdgeRock Capital LLC bought a new stake in shares of Principal Financial Group during the 2nd quarter worth about $26,000. Strategic Financial Concepts LLC acquired a new stake in Principal Financial Group in the 2nd quarter worth approximately $32,000. Family Firm Inc. acquired a new position in Principal Financial Group during the second quarter valued at approximately $33,000. Peterson Financial Group Inc. acquired a new position in Principal Financial Group during the third quarter valued at approximately $33,000. Finally, Innealta Capital LLC bought a new position in shares of Principal Financial Group in the second quarter valued at approximately $43,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Trading Up 0.4 %

Shares of PFG opened at $75.18 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 company has a market cap of $17.20 billion, a price-to-earnings ratio of -83.53, a PEG ratio of 0.92 and a beta of 1.20. The stock has a fifty day moving average price of $84.98 and a two-hundred day moving average price of $82.28. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.97.

Principal Financial Group (NYSE:PFG) last announced 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). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the business posted $1.72 earnings per share. Analysts predict that Principal Financial Group, Inc. will post 7.03 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.88%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, December 2nd. Principal Financial Group’s dividend payout ratio is presently -324.44%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PFG. Wells Fargo & Company reissued an “underweight” rating and issued a $75.00 price objective (down from $84.00) on shares of Principal Financial Group in a research report on Wednesday, December 11th. Piper Sandler raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price target for the company in a research report on Wednesday. Barclays lifted their price objective on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Bank of America dropped their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Finally, Royal Bank of Canada boosted their price target on 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. Four analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Principal Financial Group presently has a consensus rating of “Hold” and a consensus price target of $84.75.

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.