Principal Financial Group, Inc. $PFG Shares Sold by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC cut its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,138 shares of the company’s stock after selling 156 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Principal Financial Group were worth $349,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. von Borstel & Associates Inc. purchased a new stake in shares of Principal Financial Group during the 1st quarter worth about $32,000. Zions Bancorporation National Association UT acquired a new position in Principal Financial Group during the 1st quarter worth approximately $34,000. Ameriflex Group Inc. purchased a new position in Principal Financial Group in the 4th quarter worth approximately $37,000. GKV Capital Management Co. Inc. acquired a new stake in Principal Financial Group in the first quarter valued at approximately $45,000. Finally, MorganRosel Wealth Management LLC purchased a new stake in shares of Principal Financial Group during the first quarter valued at approximately $46,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

Principal Financial Group stock opened at $80.07 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.97. The company has a fifty day moving average price of $79.35 and a two-hundred day moving average price of $79.08. The company has a market cap of $17.84 billion, a PE ratio of 11.99, a P/E/G ratio of 0.76 and a beta of 1.03.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.19. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter in the previous year, the business earned $1.63 EPS. Research analysts expect that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Thursday, September 4th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.76. Principal Financial Group’s dividend payout ratio (DPR) is currently 62.78%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PFG. Wells Fargo & Company decreased their target price on shares of Principal Financial Group from $73.00 to $72.00 and set an “underweight” rating for the company in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods decreased their price objective on shares of Principal Financial Group from $90.00 to $88.00 and set a “market perform” rating for the company in a research report on Monday, August 4th. Piper Sandler raised their target price on Principal Financial Group from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Thursday, July 3rd. JPMorgan Chase & Co. boosted their price target on Principal Financial Group from $92.00 to $101.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Finally, Barclays increased their price target on Principal Financial Group from $76.00 to $80.00 and gave the company an “underweight” rating in a report on Monday, July 7th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $86.90.

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.