Adams Wealth Management Has $312,000 Holdings in Principal Financial Group, Inc. $PFG

Adams Wealth Management decreased its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 63.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,930 shares of the company’s stock after selling 6,758 shares during the quarter. Adams Wealth Management’s holdings in Principal Financial Group were worth $312,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Principal Financial Group in the second quarter valued at approximately $25,000. Traub Capital Management LLC acquired a new position in Principal Financial Group in the 2nd quarter valued at $26,000. American National Bank & Trust bought a new stake in shares of Principal Financial Group during the 2nd quarter valued at $28,000. Curio Wealth LLC grew its holdings in shares of Principal Financial Group by 37,800.0% during the 2nd quarter. Curio Wealth LLC now owns 379 shares of the company’s stock worth $30,000 after purchasing an additional 378 shares in the last quarter. Finally, Private Wealth Asset Management LLC increased its position in shares of Principal Financial Group by 163.4% in the second quarter. Private Wealth Asset Management LLC now owns 403 shares of the company’s stock worth $32,000 after purchasing an additional 250 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

NYSE:PFG opened at $89.94 on Monday. The stock’s 50-day moving average is $83.26 and its 200-day moving average is $80.74. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $92.03. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The stock has a market cap of $20.04 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 0.76 and a beta of 0.89.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Monday, October 27th. The company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.12. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter last year, the business posted $2.05 EPS. Equities research analysts anticipate that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Wednesday, December 3rd will be issued a $0.79 dividend. The ex-dividend date is Wednesday, December 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.78. This represents a $3.16 dividend on an annualized basis and a yield of 3.5%. Principal Financial Group’s dividend payout ratio (DPR) is currently 46.00%.

Analysts Set New Price Targets

Several research firms recently weighed in on PFG. Piper Sandler set a $94.00 price objective on shares of Principal Financial Group and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Barclays increased their price target on shares of Principal Financial Group from $80.00 to $83.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 8th. Evercore ISI boosted their price objective on shares of Principal Financial Group from $92.00 to $94.00 and gave the company an “in-line” rating in a research report on Thursday, October 9th. Wells Fargo & Company upped their target price on Principal Financial Group from $73.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 29th. Finally, Morgan Stanley upgraded Principal Financial Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $80.00 to $81.00 in a research note on Thursday, October 23rd. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $88.90.

Insider Transactions at Principal Financial Group

In other Principal Financial Group news, EVP Wee Yee Cheong sold 1,887 shares of Principal Financial Group stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $85.04, for a total transaction of $160,470.48. Following the transaction, the executive vice president directly owned 81,421 shares of the company’s stock, valued at approximately $6,924,041.84. The trade was a 2.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.08% of the stock is currently owned by corporate insiders.

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.