EP Wealth Advisors LLC Invests $857,000 in Principal Financial Group, Inc. (NYSE:PFG)

EP Wealth Advisors LLC bought a new stake in Principal Financial Group, Inc. (NYSE:PFG) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 9,982 shares of the company’s stock, valued at approximately $857,000.

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

Analysts Set New Price Targets

PFG has been the subject of a number of recent research reports. Piper Sandler increased their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Morgan Stanley reissued an “underweight” rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Wells Fargo & Company upped their price objective on Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Bank of America lowered their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Finally, Barclays upped their price target on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $85.67.

Principal Financial Group Price Performance

Shares of NYSE PFG opened at $80.74 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.97. The firm has a market capitalization of $18.47 billion, a P/E ratio of -89.71, a PEG ratio of 0.98 and a beta of 1.20. The company’s fifty day moving average is $86.25 and its two-hundred day moving average is $82.48.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). The company 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 last year, the business posted $1.72 earnings per share. Analysts forecast that Principal Financial Group, Inc. will post 7.03 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 3.62%. This is an increase 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%.

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.