Kieckhefer Group LLC Invests $142,000 in Principal Financial Group, Inc. (NYSE:PFG)

Kieckhefer Group LLC purchased a new stake in Principal Financial Group, Inc. (NYSE:PFG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,840 shares of the company’s stock, valued at approximately $142,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. raised its stake in shares of Principal Financial Group by 2.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock worth $404,000 after purchasing an additional 132 shares during the period. Prime Capital Investment Advisors LLC boosted its stake in Principal Financial Group by 2.3% in the third quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock valued at $546,000 after acquiring an additional 142 shares during the last quarter. Empirical Finance LLC grew its position in shares of Principal Financial Group by 1.8% during the 3rd quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock valued at $676,000 after acquiring an additional 142 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Principal Financial Group by 18.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 930 shares of the company’s stock worth $76,000 after purchasing an additional 143 shares during the last quarter. Finally, Legacy Financial Advisors Inc. lifted its stake in Principal Financial Group by 2.7% in the second quarter. Legacy Financial Advisors Inc. now owns 5,575 shares of the company’s stock valued at $437,000 after purchasing an additional 145 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PFG shares. Wells Fargo & Company reiterated an “underweight” rating and set a $75.00 price target (down previously from $84.00) on shares of Principal Financial Group in a research note on Wednesday, December 11th. Barclays raised their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Morgan Stanley restated an “underweight” rating and set a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Royal Bank of Canada boosted their price objective on Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods reduced their target price on Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating for the company in a report on Friday. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Principal Financial Group has a consensus rating of “Hold” and an average price target of $84.75.

Principal Financial Group Trading Up 1.6 %

NYSE:PFG traded up $1.19 during mid-day trading on Monday, reaching $77.53. 265,381 shares of the company’s stock traded hands, compared to its average volume of 880,775. The company has a 50 day moving average price of $81.79 and a 200-day moving average price of $82.17. The firm has a market capitalization of $17.73 billion, a price-to-earnings ratio of -86.14, a PEG ratio of 0.92 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($0.26). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the firm earned $1.72 EPS. On average, sell-side analysts predict that Principal Financial Group, Inc. will post 7.03 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a $0.73 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.92 annualized dividend and a dividend yield of 3.77%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio is currently -324.44%.

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.