Sanctuary Advisors LLC Acquires 9,933 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Sanctuary Advisors LLC boosted its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 66.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,932 shares of the company’s stock after acquiring an additional 9,933 shares during the quarter. Sanctuary Advisors LLC’s holdings in Principal Financial Group were worth $2,137,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PFG. EdgeRock Capital LLC purchased a new stake in Principal Financial Group in the 2nd quarter valued at $26,000. Strategic Financial Concepts LLC bought a new position in Principal Financial Group during the second quarter valued at $32,000. Family Firm Inc. bought a new stake in Principal Financial Group in the 2nd quarter valued at about $33,000. Peterson Financial Group Inc. purchased a new stake in shares of Principal Financial Group during the third quarter worth $33,000. Finally, Innealta Capital LLC bought a new position in Principal Financial Group in the 2nd quarter valued at $43,000. 75.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PFG shares. Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Royal Bank of Canada boosted their price objective on shares of Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 19th. Bank of America reduced their target price on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Barclays boosted their price target 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. Finally, Wells Fargo & Company restated an “underweight” rating and set a $75.00 target price (down from $84.00) on shares of Principal Financial Group in a report on Wednesday, December 11th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $84.75.

Principal Financial Group Trading Down 3.4 %

NYSE:PFG opened at $74.91 on Thursday. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.97. The stock has a market cap of $17.13 billion, a price-to-earnings ratio of -83.23, a PEG ratio of 0.92 and a beta of 1.20. The company’s 50 day moving average price is $85.22 and its 200-day moving average price is $82.33. 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 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 for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the company earned $1.72 earnings per share. On average, equities research analysts forecast that Principal Financial Group, Inc. will post 7.03 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed 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 is a boost 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 3.90%. The ex-dividend date was Monday, December 2nd. Principal Financial Group’s payout ratio is presently -324.44%.

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.