Integrated Wealth Concepts LLC Makes New Investment in Principal Financial Group, Inc. (NYSE:PFG)

Integrated Wealth Concepts LLC purchased a new position in Principal Financial Group, Inc. (NYSE:PFG) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,465 shares of the company’s stock, valued at approximately $212,000.

Other large investors also recently modified their holdings of the company. Acadian Asset Management LLC grew its position in shares of Principal Financial Group by 403.6% in the 2nd quarter. Acadian Asset Management LLC now owns 354,447 shares of the company’s stock valued at $27,800,000 after purchasing an additional 284,067 shares during the period. Massachusetts Financial Services Co. MA bought a new position in Principal Financial Group in the second quarter valued at approximately $19,698,000. Bank of Montreal Can boosted its holdings in shares of Principal Financial Group by 41.0% in the third 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. Mizuho Securities USA LLC increased its position in shares of Principal Financial Group by 818.1% during the third quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock worth $13,112,000 after acquiring an additional 136,021 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Principal Financial Group by 6,593.7% during the third quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock worth $11,356,000 after acquiring an additional 130,225 shares during the period. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Price Performance

Shares of PFG opened at $78.91 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The company’s fifty day simple moving average is $85.78 and its 200 day simple moving average is $82.41. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.97. The company has a market cap of $18.05 billion, a price-to-earnings ratio of -87.68, a PEG ratio of 0.93 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($0.26). The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned $1.72 earnings per share. On average, 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a $0.73 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.92 annualized dividend and a yield of 3.70%. Principal Financial Group’s dividend payout ratio is currently -324.44%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $75.00 target price (down from $84.00) on shares of Principal Financial Group in a research note on Wednesday. Bank of America reduced their price objective on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Morgan Stanley reissued an “underweight” rating and issued a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Royal Bank of Canada upped their price target on Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th. Finally, Barclays lifted their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $84.75.

Principal Financial Group Company 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.