Independent Advisor Alliance Sells 5,194 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Independent Advisor Alliance lowered its position in Principal Financial Group, Inc. (NYSE:PFG) by 57.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,831 shares of the company’s stock after selling 5,194 shares during the quarter. Independent Advisor Alliance’s holdings in Principal Financial Group were worth $329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Farther Finance Advisors LLC grew its holdings in shares of Principal Financial Group by 2.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 6,325 shares of the company’s stock valued at $493,000 after purchasing an additional 135 shares during the last quarter. Ballentine Partners LLC boosted its position in Principal Financial Group by 5.0% during the second quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock valued at $228,000 after buying an additional 138 shares during the period. Graypoint LLC grew its stake in shares of Principal Financial Group by 5.6% during the second quarter. Graypoint LLC now owns 2,654 shares of the company’s stock valued at $208,000 after buying an additional 140 shares during the last quarter. Prime Capital Investment Advisors LLC increased its holdings in shares of Principal Financial Group by 2.3% in 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 period. Finally, Empirical Finance LLC lifted its stake in shares of Principal Financial Group by 1.8% in the 3rd quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock valued at $676,000 after acquiring an additional 142 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Barclays raised their price target on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Royal Bank of Canada raised their target price 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. Wells Fargo & Company upped their price target 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. Morgan Stanley dropped 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. Finally, Piper Sandler boosted their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Principal Financial Group currently has an average rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Price Performance

PFG stock opened at $87.28 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 1 year low of $71.39 and a 1 year high of $91.97. The firm has a 50-day moving average of $86.38 and a 200 day moving average of $82.45. The company has a market cap of $19.96 billion, a P/E ratio of -96.98, a PEG ratio of 1.01 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.26). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the company posted $1.72 EPS. On average, sell-side analysts forecast that Principal Financial Group, Inc. will post 7.04 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.73 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.92 annualized dividend and a yield of 3.35%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio (DPR) is currently -324.44%.

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.