Farther Finance Advisors LLC Has $917,000 Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Farther Finance Advisors LLC raised its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 49.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,773 shares of the company's stock after purchasing an additional 3,557 shares during the period. Farther Finance Advisors LLC's holdings in Principal Financial Group were worth $917,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Curio Wealth LLC bought a new stake in shares of Principal Financial Group in the fourth quarter valued at approximately $29,000. BankPlus Trust Department bought a new position in Principal Financial Group in the fourth quarter worth $33,000. Navigoe LLC bought a new position in Principal Financial Group in the fourth quarter worth $37,000. Ameriflex Group Inc. bought a new position in Principal Financial Group in the fourth quarter worth $37,000. Finally, Covestor Ltd lifted its position in Principal Financial Group by 144.3% in the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock worth $42,000 after purchasing an additional 319 shares during the period. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock traded down $1.12 during trading on Friday, reaching $75.90. The company's stock had a trading volume of 1,263,212 shares, compared to its average volume of 1,329,167. The stock has a 50-day moving average price of $76.32 and a two-hundred day moving average price of $80.05. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a one year low of $68.39 and a one year high of $91.98. The stock has a market capitalization of $17.02 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 0.76 and a beta of 1.00.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The company reported $1.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period in the prior year, the firm earned $1.65 earnings per share. As a group, sell-side analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.01%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, June 2nd. Principal Financial Group's payout ratio is currently 65.10%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wells Fargo & Company raised their target price on Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 29th. Barclays reduced their target price on Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating for the company in a research report on Friday, April 11th. Keefe, Bruyette & Woods raised their target price on Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. Piper Sandler raised their target price on Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Finally, UBS Group dropped their price objective on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $83.85.

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.