Sugarloaf Wealth Management LLC Buys 195 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Sugarloaf Wealth Management LLC increased its stake in Principal Financial Group, Inc. (NYSE:PFG) by 53.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 559 shares of the company’s stock after purchasing an additional 195 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in Principal Financial Group were worth $43,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ballentine Partners LLC grew its position in shares of Principal Financial Group by 5.0% in the 2nd quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock valued at $228,000 after acquiring an additional 138 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Principal Financial Group during the second quarter worth about $122,000. Choreo LLC increased its position in Principal Financial Group by 77.1% during the second quarter. Choreo LLC now owns 15,097 shares of the company’s stock worth $1,178,000 after buying an additional 6,571 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Principal Financial Group by 6.5% in the second quarter. Daiwa Securities Group Inc. now owns 27,066 shares of the company’s stock valued at $2,124,000 after buying an additional 1,652 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Principal Financial Group by 65.0% in the second quarter. American Century Companies Inc. now owns 166,052 shares of the company’s stock valued at $13,027,000 after buying an additional 65,385 shares during the last quarter. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Trading Down 2.5 %

Shares of NYSE:PFG opened at $76.34 on Friday. The business’s 50 day simple moving average is $81.79 and its 200 day simple moving average is $82.13. The company has a market capitalization of $17.46 billion, a P/E ratio of -84.82, a P/E/G ratio of 0.92 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97.

Principal Financial Group (NYSE:PFG) last issued 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). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the firm 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a dividend of $0.73 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a dividend yield of 3.82%. The ex-dividend date was Monday, December 2nd. Principal Financial Group’s dividend payout ratio is currently -324.44%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Morgan Stanley reissued an “underweight” rating and set a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Piper Sandler upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price objective on the stock in a report on Wednesday, December 18th. Wells Fargo & Company restated an “underweight” rating and set a $75.00 target price (down previously from $84.00) on shares of Principal Financial Group in a research note on Wednesday, December 11th. Keefe, Bruyette & Woods decreased their price target on shares of Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating on the stock in a research note on Friday. Finally, Royal Bank of Canada raised their price objective on shares of Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.