Principal Financial Group, Inc. (NYSE:PFG) Shares Purchased by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 61.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,367 shares of the company’s stock after buying an additional 29,363 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Principal Financial Group were worth $6,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EdgeRock Capital LLC acquired a new position in Principal Financial Group during the 2nd quarter valued at approximately $26,000. Spire Wealth Management boosted its holdings in Principal Financial Group by 152.0% in the fourth quarter. Spire Wealth Management now owns 373 shares of the company’s stock valued at $29,000 after purchasing an additional 225 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Principal Financial Group during the fourth quarter valued at approximately $33,000. Family Firm Inc. acquired a new position in shares of Principal Financial Group in the 2nd quarter valued at $33,000. Finally, Riverview Trust Co acquired a new stake in shares of Principal Financial Group during the 1st quarter valued at about $34,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PFG has been the subject of several research reports. Keefe, Bruyette & Woods cut their price objective on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Morgan Stanley lowered their price target on 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. Raymond James upgraded Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 price target on the stock in a research note on Tuesday, July 9th. Jefferies Financial Group lifted their price objective on shares of Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Finally, Citigroup increased their price target on Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $85.58.

Principal Financial Group Stock Up 0.9 %

PFG stock opened at $81.42 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.29. The company’s 50 day simple moving average is $79.86 and its 200-day simple moving average is $80.86. Principal Financial Group, Inc. has a 12 month low of $66.21 and a 12 month high of $88.26. The firm has a market capitalization of $19.08 billion, a PE ratio of 15.54, a P/E/G ratio of 0.82 and a beta of 1.21.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $3.78 billion. Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. During the same period last year, the firm earned $1.53 earnings per share. Equities analysts expect that Principal Financial Group, Inc. will post 7.31 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 5th will be paid a $0.72 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Thursday, September 5th. Principal Financial Group’s payout ratio is presently 54.96%.

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.