Principal Financial Group, Inc. (NYSE:PFG) Shares Purchased by Brooklyn Investment Group

Brooklyn Investment Group grew its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 7.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,305 shares of the company’s stock after purchasing an additional 235 shares during the period. Brooklyn Investment Group’s holdings in Principal Financial Group were worth $284,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PFG. Acadian Asset Management LLC boosted its holdings in Principal Financial Group by 403.6% during the second quarter. Acadian Asset Management LLC now owns 354,447 shares of the company’s stock worth $27,800,000 after buying an additional 284,067 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Principal Financial Group during the 2nd quarter valued at approximately $19,698,000. Swedbank AB purchased a new stake in shares of Principal Financial Group during the 1st quarter worth approximately $13,996,000. Bank of Montreal Can grew its holdings in shares of Principal Financial Group by 41.0% in the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after acquiring an additional 146,473 shares during the period. Finally, Mizuho Securities USA LLC increased its stake in Principal Financial Group by 818.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock valued at $13,112,000 after purchasing an additional 136,021 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Price Performance

PFG opened at $86.79 on Wednesday. Principal Financial Group, Inc. has a 1 year low of $71.39 and a 1 year high of $91.97. 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’s 50 day simple moving average is $86.28 and its 200 day simple moving average is $82.39. The stock has a market capitalization of $19.85 billion, a PE ratio of 12.67, a P/E/G ratio of 1.01 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last issued 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). The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same quarter in the previous year, the business posted $1.72 EPS. As a group, sell-side analysts expect that Principal Financial Group, Inc. will post 7.04 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be issued a $0.73 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. This represents a $2.92 annualized dividend and a yield of 3.36%. Principal Financial Group’s dividend payout ratio (DPR) is presently -320.00%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Barclays boosted their target price 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. Keefe, Bruyette & Woods lowered their price objective on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 30th. Morgan Stanley cut their target price 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. Piper Sandler lifted their price objective on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada increased their target price on Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Principal Financial Group presently has a consensus rating of “Hold” and a consensus target price of $85.92.

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.