Principal Financial Group, Inc. (NYSE:PFG) Shares Purchased by Graypoint LLC

Graypoint LLC raised its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 5.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,654 shares of the company’s stock after purchasing an additional 140 shares during the quarter. Graypoint LLC’s holdings in Principal Financial Group were worth $208,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC raised its stake in Principal Financial Group by 9,002.1% during the 4th quarter. International Assets Investment Management LLC now owns 163,383 shares of the company’s stock valued at $12,853,000 after acquiring an additional 161,588 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Principal Financial Group by 9.3% during the fourth quarter. Victory Capital Management Inc. now owns 326,188 shares of the company’s stock worth $25,661,000 after purchasing an additional 27,887 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Principal Financial Group by 62.1% during the fourth quarter. First Trust Direct Indexing L.P. now owns 4,890 shares of the company’s stock worth $385,000 after purchasing an additional 1,873 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Principal Financial Group by 1,072.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 4,267 shares of the company’s stock worth $336,000 after purchasing an additional 3,903 shares during the period. Finally, National Bank of Canada FI grew its position in Principal Financial Group by 5.9% in the 4th quarter. National Bank of Canada FI now owns 72,492 shares of the company’s stock valued at $5,734,000 after buying an additional 4,035 shares during the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

Principal Financial Group stock opened at $81.42 on Tuesday. Principal Financial Group, Inc. has a fifty-two week low of $66.21 and a fifty-two week high of $88.26. The company has a market capitalization of $18.86 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 0.86 and a beta of 1.21. The stock has a fifty day moving average of $79.87 and a two-hundred day moving average of $80.89. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.29 and a current ratio of 0.29.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the business earned $1.53 EPS. On average, analysts anticipate that Principal Financial Group, Inc. will post 7.31 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, September 5th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.54%. Principal Financial Group’s payout ratio is 54.20%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PFG shares. Keefe, Bruyette & Woods reduced their target price on shares of 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. Wells Fargo & Company cut their price target on shares of Principal Financial Group from $87.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Bank of America upped their target price on shares of Principal Financial Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Royal Bank of Canada lifted their price target on shares of Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. raised Principal Financial Group from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $88.00 to $96.00 in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and an average price target 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.