1834 Investment Advisors Co. Makes New $202,000 Investment in Principal Financial Group, Inc. (NYSE:PFG)

1834 Investment Advisors Co. bought a new stake in Principal Financial Group, Inc. (NYSE:PFG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,357 shares of the company’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EdgeRock Capital LLC bought a new stake in shares of Principal Financial Group during the second quarter worth approximately $26,000. Strategic Financial Concepts LLC bought a new stake in shares of Principal Financial Group during the 2nd quarter valued at $32,000. Family Firm Inc. acquired a new position in shares of Principal Financial Group in the 2nd quarter valued at $33,000. Innealta Capital LLC bought a new position in shares of Principal Financial Group in the 2nd quarter worth $43,000. Finally, MCF Advisors LLC grew its stake in shares of Principal Financial Group by 55.6% during the second quarter. MCF Advisors LLC now owns 613 shares of the company’s stock worth $48,000 after purchasing an additional 219 shares during the period. 75.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PFG shares. Barclays raised their target price on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. 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 report on Wednesday, October 2nd. Keefe, Bruyette & Woods cut their target price on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Jefferies Financial Group lifted their price target on shares of Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Finally, Citigroup upped their price objective on shares of Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $85.58.

Principal Financial Group Price Performance

NYSE:PFG opened at $86.14 on Thursday. Principal Financial Group, Inc. has a 52-week low of $68.69 and a 52-week high of $91.97. The company has a market cap of $19.70 billion, a P/E ratio of -95.71, a P/E/G ratio of 0.94 and a beta of 1.20. 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 stock’s 50-day simple moving average is $84.76 and its 200 day simple moving average is $81.93.

Principal Financial Group (NYSE:PFG) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the company posted $1.72 earnings per share. As a group, sell-side analysts forecast that Principal Financial Group, Inc. will post 7.12 EPS for the current fiscal 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 dividend of $0.73 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a yield of 3.39%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio (DPR) is presently -320.00%.

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.