Sompo Asset Management Co. Ltd. Purchases 360 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Sompo Asset Management Co. Ltd. increased its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 5.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,820 shares of the company’s stock after acquiring an additional 360 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Principal Financial Group were worth $586,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. EdgeRock Capital LLC purchased a new stake in shares of Principal Financial Group in the second quarter worth $26,000. Peterson Financial Group Inc. bought a new position in Principal Financial Group in the 3rd quarter worth about $33,000. Family Firm Inc. purchased a new stake in shares of Principal Financial Group in the 2nd quarter valued at about $33,000. Prospera Private Wealth LLC bought a new stake in shares of Principal Financial Group during the 3rd quarter valued at about $45,000. Finally, Innealta Capital LLC purchased a new position in shares of Principal Financial Group during the second quarter worth about $43,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Barclays raised their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods dropped their price objective on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. Morgan Stanley cut their target price on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Wells Fargo & Company raised their price target on Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, Piper Sandler upped their price objective on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Trading Up 1.2 %

Shares of PFG stock opened at $85.73 on Monday. The stock has a market capitalization of $19.61 billion, a PE ratio of 12.48, a P/E/G ratio of 1.00 and a beta of 1.20. Principal Financial Group, Inc. has a 1-year low of $71.39 and a 1-year high of $91.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The business has a 50-day moving average of $86.12 and a 200 day moving average of $82.34.

Principal Financial Group (NYSE:PFG) last posted its earnings results 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 firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same quarter in the prior year, the company posted $1.72 earnings per share. As a group, sell-side analysts anticipate that Principal Financial Group, Inc. will post 7.04 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 3.41%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. Principal Financial Group’s dividend payout ratio (DPR) is currently -320.00%.

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.