Principal Financial Group, Inc. (NYSE:PFG) Shares Purchased by Centennial Wealth Advisory LLC

Centennial Wealth Advisory LLC boosted its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 6.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,441 shares of the company’s stock after acquiring an additional 213 shares during the period. Centennial Wealth Advisory LLC’s holdings in Principal Financial Group were worth $296,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its stake in Principal Financial Group by 6.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 296,889 shares of the company’s stock valued at $25,624,000 after acquiring an additional 18,368 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Principal Financial Group by 108.1% during the 1st quarter. Cetera Investment Advisers now owns 53,579 shares of the company’s stock worth $4,624,000 after acquiring an additional 27,827 shares during the period. Sei Investments Co. raised its holdings in Principal Financial Group by 59.4% in the first quarter. Sei Investments Co. now owns 24,275 shares of the company’s stock valued at $2,095,000 after buying an additional 9,048 shares during the period. Quantbot Technologies LP purchased a new position in Principal Financial Group in the first quarter valued at approximately $1,097,000. Finally, SG Americas Securities LLC raised its holdings in Principal Financial Group by 57.3% in the second quarter. SG Americas Securities LLC now owns 178,635 shares of the company’s stock valued at $14,014,000 after buying an additional 65,070 shares during the period. 75.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Piper Sandler raised their price target 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. Jefferies Financial Group lifted their price objective on shares of Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Barclays lifted their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Bank of America decreased their price objective on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Finally, Citigroup lifted their price objective on shares of Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, Principal Financial Group currently has an average rating of “Hold” and a consensus price target of $85.58.

Principal Financial Group Trading Up 5.7 %

PFG traded up $4.71 during trading on Wednesday, reaching $87.26. The company had a trading volume of 38,094 shares, compared to its average volume of 1,129,127. The firm’s 50-day simple moving average is $84.64 and its 200 day simple moving average is $81.91. The company has a market cap of $19.96 billion, a price-to-earnings ratio of -91.72, a PEG ratio of 0.95 and a beta of 1.20. Principal Financial Group, Inc. has a 12-month low of $68.69 and a 12-month high of $91.97. 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 (NYSE:PFG) last released its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share 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 business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the firm earned $1.72 EPS. Equities research analysts anticipate that Principal Financial Group, Inc. will post 7.12 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 3.35%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group’s 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.