Acropolis Investment Management LLC Has $173,000 Position in Principal Financial Group, Inc. (NYSE:PFG)

Acropolis Investment Management LLC cut its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 12.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,235 shares of the company’s stock after selling 317 shares during the period. Acropolis Investment Management LLC’s holdings in Principal Financial Group were worth $173,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PFG. Peterson Financial Group Inc. bought a new position in Principal Financial Group during the third quarter worth about $33,000. Truvestments Capital LLC acquired a new stake in shares of Principal Financial Group in the third quarter valued at approximately $43,000. Sugarloaf Wealth Management LLC boosted its stake in shares of Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after acquiring an additional 195 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Principal Financial Group during the 3rd quarter worth approximately $45,000. Finally, Capital Performance Advisors LLP bought a new stake in Principal Financial Group in the 3rd quarter valued at $50,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Trading Up 1.6 %

Shares of NYSE:PFG opened at $80.08 on Thursday. The business’s 50 day simple moving average is $81.64 and its 200 day simple moving average is $82.16. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $18.32 billion, a P/E ratio of -88.98, a P/E/G ratio of 0.92 and a beta of 1.22.

Principal Financial Group (NYSE:PFG) last released 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 company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the company posted $1.72 earnings per share. On average, research analysts anticipate that Principal Financial Group, Inc. will post 7.03 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a $0.73 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend was Monday, December 2nd. Principal Financial Group’s dividend payout ratio (DPR) is currently -324.44%.

Analyst Ratings Changes

A number of equities analysts have commented on PFG shares. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods reduced their target price on shares of Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating for the company in a report on Friday, January 10th. Barclays increased their price target 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. Wells Fargo & Company reduced their price objective on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a report on Tuesday. Finally, Piper Sandler upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 target price on the stock in a research note on Wednesday, December 18th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Principal Financial Group currently has an average rating of “Hold” and a consensus price target of $84.25.

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.