Truvestments Capital LLC Makes New Investment in Principal Financial Group, Inc. (NYSE:PFG)

Truvestments Capital LLC acquired a new position in shares of Principal Financial Group, Inc. (NYSE:PFG) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 500 shares of the company’s stock, valued at approximately $43,000.

Other hedge funds also recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new position in Principal Financial Group during the 2nd quarter worth $26,000. Strategic Financial Concepts LLC acquired a new position in Principal Financial Group during the 2nd quarter worth $32,000. Family Firm Inc. acquired a new position in Principal Financial Group during the 2nd quarter worth $33,000. Peterson Financial Group Inc. acquired a new position in Principal Financial Group during the 3rd quarter worth $33,000. Finally, Innealta Capital LLC acquired a new position in shares of Principal Financial Group in the 2nd quarter valued at about $43,000. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Stock Up 0.6 %

PFG stock opened at $87.28 on Thursday. Principal Financial Group, Inc. has a 52 week low of $71.39 and a 52 week high of $91.97. The company has a market capitalization of $19.96 billion, a price-to-earnings ratio of -96.98, a price-to-earnings-growth ratio of 1.01 and a beta of 1.20. The firm’s 50-day moving average is $86.35 and its two-hundred day moving average is $82.42. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the firm posted $1.72 earnings per share. On average, analysts forecast that Principal Financial Group, Inc. will post 7.04 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be issued a $0.73 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group’s payout ratio is presently -324.44%.

Wall Street Analyst Weigh In

PFG has been the subject of several research reports. Morgan Stanley decreased their price target on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Royal Bank of Canada lifted their price target on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. Bank of America decreased their price target 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. Wells Fargo & Company lifted their price target on shares of Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Finally, Barclays lifted their price target on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Two research 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $85.92.

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.