PSI Advisors LLC Decreases Position in Principal Financial Group, Inc. (NYSE:PFG)

PSI Advisors LLC reduced its stake in Principal Financial Group, Inc. (NYSE:PFG) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 10,084 shares of the company’s stock after selling 200 shares during the period. PSI Advisors LLC’s holdings in Principal Financial Group were worth $781,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PFG. Peterson Financial Group Inc. acquired a new position in shares of Principal Financial Group in the 3rd quarter valued at $33,000. Truvestments Capital LLC purchased a new stake in Principal Financial Group in the third quarter valued at $43,000. Sugarloaf Wealth Management LLC boosted its stake in Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after acquiring an additional 195 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Principal Financial Group during the third quarter worth about $45,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Principal Financial Group during the third quarter worth about $50,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PFG shares. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Barclays increased their price objective on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Bank of America cut their target price 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. Royal Bank of Canada increased their price target on shares of Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. Finally, Piper Sandler raised 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 research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $84.75.

Principal Financial Group Stock Up 1.9 %

Shares of NYSE:PFG opened at $77.80 on Tuesday. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. 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 firm’s 50-day simple moving average is $81.72 and its 200-day simple moving average is $82.15. The company has a market cap of $17.79 billion, a price-to-earnings ratio of -86.44, a PEG ratio of 0.92 and a beta of 1.22.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same period in the prior year, the firm posted $1.72 EPS. As a group, equities research analysts predict that Principal Financial Group, Inc. will post 7.03 earnings per share for the current 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 issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date was Monday, December 2nd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio is currently -324.44%.

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.