Apollon Wealth Management LLC Reduces Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Apollon Wealth Management LLC lowered its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,337 shares of the company’s stock after selling 167 shares during the quarter. Apollon Wealth Management LLC’s holdings in Principal Financial Group were worth $458,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. EdgeRock Capital LLC purchased a new stake in shares of Principal Financial Group in the second quarter valued at $26,000. Strategic Financial Concepts LLC purchased a new stake in Principal Financial Group in the 2nd quarter worth about $32,000. Family Firm Inc. purchased a new position in shares of Principal Financial Group during the second quarter valued at approximately $33,000. Innealta Capital LLC purchased a new position in shares of Principal Financial Group during the second quarter valued at approximately $43,000. Finally, MCF Advisors LLC grew its stake in shares of Principal Financial Group by 55.6% during the second quarter. MCF Advisors LLC now owns 613 shares of the company’s stock valued at $48,000 after buying an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Up 0.2 %

Shares of NYSE PFG opened at $86.56 on Friday. Principal Financial Group, Inc. has a 1-year low of $71.37 and a 1-year high of $91.97. The business has a fifty day moving average price of $85.60 and a 200 day moving average price of $82.20. The stock has a market capitalization of $19.80 billion, a P/E ratio of -96.18, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. 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 (NYSE:PFG) last released its quarterly 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 during the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same quarter in the prior year, the business posted $1.72 earnings per share. Equities research analysts expect that Principal Financial Group, Inc. will post 7.12 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.73 per share. The ex-dividend date of this dividend is Monday, December 2nd. 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 3.37%. Principal Financial Group’s dividend payout ratio is presently -320.00%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PFG shares. Wells Fargo & Company boosted their price objective on Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods cut their price target on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Piper Sandler raised their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Barclays boosted their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada raised their target price on shares of Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Two equities research 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 data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $85.58.

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.