Focus Financial Network Inc. Purchases 1,322 Shares of Principal Financial Group, Inc. $PFG

Focus Financial Network Inc. raised its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 40.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,584 shares of the company’s stock after purchasing an additional 1,322 shares during the period. Focus Financial Network Inc.’s holdings in Principal Financial Group were worth $364,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PFG. von Borstel & Associates Inc. bought a new stake in Principal Financial Group during the 1st quarter valued at $32,000. Zions Bancorporation National Association UT purchased a new position in shares of Principal Financial Group in the 1st quarter valued at $34,000. Ameriflex Group Inc. purchased a new position in shares of Principal Financial Group in the 4th quarter valued at $37,000. GKV Capital Management Co. Inc. purchased a new position in shares of Principal Financial Group in the 1st quarter valued at $45,000. Finally, MorganRosel Wealth Management LLC purchased a new position in shares of Principal Financial Group in the 1st quarter valued at $46,000. 75.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PFG has been the topic of a number of analyst reports. Piper Sandler lifted their price target on Principal Financial Group from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, July 3rd. Morgan Stanley lifted their price target on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Monday, August 18th. Barclays lifted their price target on Principal Financial Group from $76.00 to $80.00 and gave the company an “underweight” rating in a report on Monday, July 7th. JPMorgan Chase & Co. lifted their price target on Principal Financial Group from $92.00 to $101.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company cut their price target on Principal Financial Group from $73.00 to $72.00 and set an “underweight” rating on the stock in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Principal Financial Group currently has an average rating of “Reduce” and a consensus price target of $86.90.

Principal Financial Group Price Performance

NYSE:PFG opened at $81.71 on Friday. The stock has a market cap of $18.20 billion, a PE ratio of 12.23, a P/E/G ratio of 0.76 and a beta of 1.03. Principal Financial Group, Inc. has a one year low of $68.39 and a one year high of $91.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The stock has a 50 day moving average price of $79.47 and a 200 day moving average price of $78.78.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.19. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same period last year, the business earned $1.63 earnings per share. Equities research analysts expect that Principal Financial Group, Inc. will post 8.5 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 26th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.78 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Thursday, September 4th. Principal Financial Group’s dividend payout ratio (DPR) is 62.78%.

Principal Financial Group Company 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.