500 Shares in Principal Financial Group, Inc. (NYSE:PFG) Acquired by Truvestments Capital LLC

Truvestments Capital LLC bought a new position in Principal Financial Group, Inc. (NYSE:PFG) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 500 shares of the company’s stock, valued at approximately $43,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PFG. EdgeRock Capital LLC bought a new stake in shares of Principal Financial Group in the 2nd quarter worth approximately $26,000. Strategic Financial Concepts LLC acquired a new stake in shares of Principal Financial Group during the second quarter valued at approximately $32,000. Family Firm Inc. acquired a new stake in shares of Principal Financial Group during the second quarter valued at approximately $33,000. Peterson Financial Group Inc. acquired a new stake in shares of Principal Financial Group during the third quarter valued at approximately $33,000. Finally, Innealta Capital LLC acquired a new stake in shares of Principal Financial Group during the second quarter valued at approximately $43,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Performance

PFG stock opened at $87.28 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $19.96 billion, a price-to-earnings ratio of -96.98, a P/E/G ratio of 1.01 and a beta of 1.20. Principal Financial Group, Inc. has a 12 month low of $71.39 and a 12 month high of $91.97. The firm has a 50 day moving average of $86.35 and a two-hundred day moving average of $82.42.

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 during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $1.72 earnings per share. As a group, equities analysts anticipate that Principal Financial Group, Inc. will post 7.04 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.35%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. Principal Financial Group’s payout ratio is presently -324.44%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. Bank of America cut their price target on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Barclays boosted their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Morgan Stanley lowered their price objective on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock 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 analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $85.92.

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.