McClarren Financial Advisors Inc. Buys 654 Shares of Principal Financial Group, Inc. (NYSE:PFG)

McClarren Financial Advisors Inc. boosted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 419.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 810 shares of the company’s stock after purchasing an additional 654 shares during the period. McClarren Financial Advisors Inc.’s holdings in Principal Financial Group were worth $69,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. EdgeRock Capital LLC bought a new stake in shares of Principal Financial Group during the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC bought a new stake in Principal Financial Group during the 2nd quarter valued at $32,000. Family Firm Inc. purchased a new stake in shares of Principal Financial Group in the 2nd quarter worth $33,000. Riverview Trust Co bought a new position in shares of Principal Financial Group during the 1st quarter worth $34,000. Finally, Salomon & Ludwin LLC increased its stake in shares of Principal Financial Group by 319.3% during the first quarter. Salomon & Ludwin LLC now owns 499 shares of the company’s stock valued at $43,000 after buying an additional 380 shares during the period. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

Shares of PFG opened at $90.46 on Monday. Principal Financial Group, Inc. has a 12 month low of $66.21 and a 12 month high of $91.97. The stock has a fifty day moving average price of $82.75 and a 200-day moving average price of $81.54. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.36. The firm has a market cap of $20.95 billion, a PE ratio of 17.57, a P/E/G ratio of 0.96 and a beta of 1.19.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter last year, the business posted $1.53 earnings per share. Equities research analysts predict that Principal Financial Group, Inc. will post 7.31 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 5th were paid a $0.72 dividend. The ex-dividend date was Thursday, September 5th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a yield of 3.18%. Principal Financial Group’s dividend payout ratio (DPR) is 55.92%.

Analysts Set New Price Targets

PFG has been the subject of a number of research reports. JPMorgan Chase & Co. raised shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $88.00 to $96.00 in a research note on Tuesday, July 2nd. Morgan Stanley lowered their price target on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. 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. Citigroup upped their target price on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Finally, Barclays lifted their price target on Principal Financial Group from $74.00 to $75.00 and gave the company an “underweight” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Principal Financial Group has a consensus rating of “Hold” and an average price target of $85.42.

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.