Principal Financial Group, Inc. $PFG Shares Acquired by Compass Financial Management LLC

Key Points

• Compass Financial Management increased its Principal Financial Group holdings by 1,112.1% in the third quarter, to 25,406 shares valued at about $2.84 million. Institutional investors collectively own 75.08% of the stock.
• Principal reported quarterly EPS of $2.22, below the $2.46 consensus estimate, while revenue of $4.62 billion exceeded expectations. It raised its quarterly dividend from $0.84 to $0.85 per share.
• Analysts have a consensus Hold rating and an average price target of $107.75; the stock opened at $117.31.

Compass Financial Management LLC lifted its holdings in Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) by 1,112.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,406 shares of the company's stock after purchasing an additional 23,310 shares during the quarter. Compass Financial Management LLC's holdings in Principal Financial Group were worth $2,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Principal Financial Group in the 2nd quarter worth about $2,157,181,000. State Street Corp raised its position in Principal Financial Group by 0.8% in the 2nd quarter. State Street Corp now owns 10,264,856 shares of the company's stock worth $1,106,346,000 after buying an additional 85,014 shares during the last quarter. Bank of America Corp DE lifted its stake in Principal Financial Group by 5.0% during the 1st quarter. Bank of America Corp DE now owns 8,819,452 shares of the company's stock valued at $794,721,000 after acquiring an additional 420,319 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Principal Financial Group by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,886,509 shares of the company's stock worth $350,187,000 after acquiring an additional 119,327 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Principal Financial Group by 12.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,216,125 shares of the company's stock worth $238,854,000 after acquiring an additional 244,550 shares during the period. Hedge funds and other institutional investors own 75.08% of the company's stock.

Principal Financial Group Stock Up 4.1%

Shares of NASDAQ:PFG opened at $117.31 on Thursday. The business's 50 day moving average is $112.32 and its 200 day moving average is $103.83. The stock has a market cap of $24.91 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. Principal Financial Group, Inc. has a 52-week low of $80.00 and a 52-week high of $121.18. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.37.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last issued its earnings results on Thursday, October 29th. The company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.46 by ($0.24). Principal Financial Group had a return on equity of 16.51% and a net margin of 11.89%. The firm had revenue of $4.62 billion during the quarter, compared to analysts' expectations of $4.31 billion. During the same quarter in the prior year, the company posted $2.32 earnings per share. Sell-side analysts predict that Principal Financial Group, Inc. will post 9.18 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Wednesday, December 2nd will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.9%. The ex-dividend date is Wednesday, December 2nd. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.84. Principal Financial Group's dividend payout ratio (DPR) is currently 37.33%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PFG shares. Wells Fargo & Company lowered their price target on Principal Financial Group from $112.00 to $109.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 28th. Keefe, Bruyette & Woods decreased their target price on Principal Financial Group from $117.00 to $115.00 and set a "market perform" rating on the stock in a research report on Friday, October 9th. JPMorgan Chase & Co. dropped their target price on Principal Financial Group from $107.00 to $106.00 and set a "neutral" rating for the company in a report on Thursday, October 15th. Piper Sandler dropped their target price on Principal Financial Group from $128.00 to $125.00 and set an "overweight" rating for the company in a research report on Wednesday, October 28th. Finally, Barclays reduced their target price on Principal Financial Group from $92.00 to $86.00 and set an "underweight" rating on the stock in a research note on Wednesday, October 7th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Principal Financial Group has a consensus rating of "Hold" and a consensus price target of $107.75.

Principal Financial Group Profile

Principal Financial Group, Inc is a global financial services company that helps individuals and businesses build, protect and manage wealth. Its offerings include retirement plans, individual retirement accounts, investment products, life and disability insurance, and financial wellness solutions. The company also provides institutional investment management and pension-risk transfer services.

Principal serves employers, institutions and individual investors through a range of retirement and workplace benefits solutions.

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