Public Employees Retirement System of Ohio Purchases 2,469 Shares of Principal Financial Group, Inc. $PFG

Public Employees Retirement System of Ohio grew its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 3.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,348 shares of the company’s stock after purchasing an additional 2,469 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Principal Financial Group were worth $5,747,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PFG. Kingstone Capital Partners Texas LLC bought a new position in shares of Principal Financial Group during the 2nd quarter worth $3,269,000. Blackhawk Capital Partners LLC. purchased a new stake in Principal Financial Group in the first quarter worth about $281,000. SG Americas Securities LLC bought a new position in Principal Financial Group during the 1st quarter worth about $943,000. Sumitomo Mitsui Trust Group Inc. increased its position in Principal Financial Group by 2.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 526,649 shares of the company’s stock valued at $44,433,000 after purchasing an additional 13,483 shares during the period. Finally, Victory Capital Management Inc. increased its position in 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 valued at $312,805,000 after purchasing an additional 3,296,608 shares during the period. 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. Piper Sandler upped their price target on shares of Principal Financial Group from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Thursday, July 3rd. UBS Group boosted their price objective on shares of Principal Financial Group from $85.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 29th. Barclays increased their target price on Principal Financial Group from $76.00 to $80.00 and gave the company an “underweight” rating in a research report on Monday, July 7th. Keefe, Bruyette & Woods cut their price target on Principal Financial Group from $90.00 to $88.00 and set a “market perform” rating on the stock in a report on Monday, August 4th. Finally, Wells Fargo & Company decreased their price objective on Principal Financial Group from $73.00 to $72.00 and set an “underweight” rating for the company in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $86.90.

Principal Financial Group Stock Up 1.4%

Principal Financial Group stock opened at $82.62 on Monday. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $91.97. The business has a fifty day moving average price of $79.64 and a 200-day moving average price of $78.70. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The stock has a market capitalization of $18.41 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.76 and a beta of 1.03.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results 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 return on equity of 14.68% and a net margin of 9.74%.During the same period in the previous year, the firm earned $1.63 earnings per share. Equities research analysts forecast that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Thursday, September 4th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, September 4th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.76. Principal Financial Group’s payout ratio is 62.78%.

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.