Signal Advisors Wealth LLC Acquires Shares of 2,617 Principal Financial Group, Inc. $PFG

Signal Advisors Wealth LLC acquired a new stake in Principal Financial Group, Inc. (NYSE:PFG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,617 shares of the company’s stock, valued at approximately $208,000.

A number of other hedge funds also recently bought and sold shares of the business. Victory Capital Management Inc. raised its holdings in Principal Financial Group by 802.2% in the 1st quarter. Victory Capital Management Inc. now owns 3,707,534 shares of the company’s stock valued at $312,805,000 after acquiring an additional 3,296,608 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Principal Financial Group by 114.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,613,143 shares of the company’s stock worth $220,471,000 after buying an additional 1,393,008 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Principal Financial Group by 12.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,246 shares of the company’s stock worth $145,318,000 after buying an additional 209,885 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Principal Financial Group by 1.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,468,728 shares of the company’s stock worth $123,917,000 after buying an additional 20,221 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Principal Financial Group by 1.7% during the 1st quarter. Royal Bank of Canada now owns 1,080,097 shares of the company’s stock worth $91,128,000 after buying an additional 17,969 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Trading Down 0.1%

NYSE PFG opened at $81.71 on Friday. 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 firm 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 firm’s fifty day moving average is $79.47 and its two-hundred day moving average is $78.78.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Monday, July 28th. The company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.19. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period last year, the firm earned $1.63 EPS. Analysts expect that Principal Financial Group, Inc. will post 8.5 earnings per share for the current 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 paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.8%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.76. The ex-dividend date is Thursday, September 4th. Principal Financial Group’s dividend payout ratio (DPR) is presently 62.78%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wells Fargo & Company cut their price target on shares of Principal Financial Group from $73.00 to $72.00 and set an “underweight” rating for the company in a report on Wednesday, July 30th. Barclays raised their price target on shares of Principal Financial Group from $76.00 to $80.00 and gave the stock an “underweight” rating in a report on Monday, July 7th. UBS Group raised their price target on shares of Principal Financial Group from $85.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, July 29th. Piper Sandler raised their price target on shares of Principal Financial Group from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. Finally, Keefe, Bruyette & Woods cut their price target on shares of Principal Financial Group from $90.00 to $88.00 and set a “market perform” rating for the company in a report on Monday, August 4th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Principal Financial Group has an average rating of “Reduce” and a consensus target price of $86.90.

About Principal Financial Group

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.