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

Kieckhefer Group LLC purchased a new stake in Principal Financial Group, Inc. (NYSE:PFG) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,840 shares of the company’s stock, valued at approximately $142,000.

Other large investors have also made changes to their positions in the company. Peterson Financial Group Inc. acquired a new position in shares of Principal Financial Group during the third quarter worth about $33,000. Truvestments Capital LLC bought a new position in Principal Financial Group in the third quarter valued at $43,000. Sugarloaf Wealth Management LLC lifted its position in 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 buying an additional 195 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Principal Financial Group in the third quarter valued at about $45,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Principal Financial Group during the 3rd quarter worth approximately $50,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Price Performance

NYSE:PFG traded up $1.19 during mid-day trading on Monday, reaching $77.53. The stock had a trading volume of 265,381 shares, compared to its average volume of 880,775. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.97. The stock has a 50-day simple moving average of $81.79 and a two-hundred day simple moving average of $82.17. 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 stock has a market capitalization of $17.73 billion, a PE ratio of -86.14, a P/E/G ratio of 0.92 and a beta of 1.22.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). The business 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 business earned $1.72 earnings per share. On average, equities analysts anticipate that Principal Financial Group, Inc. will post 7.03 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were paid a $0.73 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date was Monday, December 2nd. This represents a $2.92 annualized dividend and a dividend yield of 3.77%. Principal Financial Group’s dividend payout ratio is presently -324.44%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PFG. Wells Fargo & Company restated an “underweight” rating and set a $75.00 price objective (down from $84.00) on shares of Principal Financial Group in a research note on Wednesday, December 11th. Keefe, Bruyette & Woods cut 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 research note on Friday. Piper Sandler raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price target on the stock in a report on Wednesday, December 18th. JPMorgan Chase & Co. upgraded 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 report on Tuesday, January 7th. Finally, Bank of America dropped their price target on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $84.75.

About Principal Financial Group

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.