Sumitomo Mitsui DS Asset Management Company Ltd Has $1.99 Million Stock Holdings in Principal Financial Group, Inc. $PFG

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,037 shares of the company’s stock after purchasing an additional 814 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Principal Financial Group were worth $1,989,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PFG. Victory Capital Management Inc. increased its stake in shares of Principal Financial Group by 802.2% during the 1st quarter. Victory Capital Management Inc. now owns 3,707,534 shares of the company’s stock worth $312,805,000 after purchasing an additional 3,296,608 shares during the last quarter. Goldman Sachs Group Inc. boosted 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 period. Nuveen LLC bought a new stake in shares of Principal Financial Group during the 1st quarter worth about $47,986,000. AQR Capital Management LLC boosted its holdings in shares of Principal Financial Group by 443.6% during the 1st quarter. AQR Capital Management LLC now owns 645,431 shares of the company’s stock worth $53,597,000 after buying an additional 526,701 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Principal Financial Group by 11,781.7% during the 1st quarter. GAMMA Investing LLC now owns 478,715 shares of the company’s stock worth $40,389,000 after buying an additional 474,686 shares during the period. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

NYSE PFG opened at $81.71 on Monday. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $18.20 billion, a P/E ratio of 12.23, a P/E/G ratio of 0.76 and a beta of 1.03. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $91.97. The firm has a 50-day moving average price of $79.47 and a two-hundred day moving average price of $78.73.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Monday, July 28th. The company reported $2.16 earnings per share (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 in the prior year, the company posted $1.63 earnings per share. Analysts anticipate 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 issued a dividend of $0.78 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.8%. Principal Financial Group’s payout ratio is currently 62.78%.

Analyst Upgrades and Downgrades

PFG has been the subject of several research analyst reports. UBS Group lifted their target price 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. JPMorgan Chase & Co. lifted their target price on shares of Principal Financial Group from $92.00 to $101.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Barclays lifted their target price 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. Keefe, Bruyette & Woods reduced their target price 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. Finally, Piper Sandler lifted their target price 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. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Principal Financial Group currently has a consensus 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.