Spire Wealth Management Buys 867 Shares of Principal Financial Group, Inc. $PFG

Spire Wealth Management raised its position in Principal Financial Group, Inc. (NYSE:PFG) by 221.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,258 shares of the company’s stock after purchasing an additional 867 shares during the quarter. Spire Wealth Management’s holdings in Principal Financial Group were worth $100,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PFG. Principal Financial Group Inc. raised its position in Principal Financial Group by 1.1% in the first quarter. Principal Financial Group Inc. now owns 229,603 shares of the company’s stock valued at $19,372,000 after purchasing an additional 2,513 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Principal Financial Group by 12.5% in the first quarter. Envestnet Asset Management Inc. now owns 49,183 shares of the company’s stock valued at $4,150,000 after purchasing an additional 5,457 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in Principal Financial Group by 3.9% in the first quarter. Stratos Wealth Partners LTD. now owns 3,826 shares of the company’s stock valued at $323,000 after purchasing an additional 144 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in Principal Financial Group by 7.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 76,615 shares of the company’s stock valued at $6,290,000 after purchasing an additional 5,057 shares during the last quarter. Finally, Greenleaf Trust raised its position in Principal Financial Group by 16.1% in the first quarter. Greenleaf Trust now owns 7,699 shares of the company’s stock valued at $650,000 after purchasing an additional 1,066 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Trading Down 1.1%

NYSE PFG opened at $81.16 on Thursday. The business has a 50 day simple moving average of $81.33 and a 200 day simple moving average of $79.22. Principal Financial Group, Inc. has a one year low of $68.39 and a one year high of $90.31. The stock has a market capitalization of $18.08 billion, a P/E ratio of 12.15, a P/E/G ratio of 0.76 and a beta of 1.03. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30.

Principal Financial Group (NYSE:PFG) last released its earnings results on Monday, October 27th. The company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.20 by $0.12. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same quarter in the previous year, the company earned $2.05 earnings per share. Research 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 disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Wednesday, December 3rd will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 3.9%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Wednesday, December 3rd. Principal Financial Group’s payout ratio is 46.00%.

Analyst Ratings Changes

PFG has been the subject of several research reports. UBS Group increased their target price on Principal Financial Group from $85.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, July 29th. Evercore ISI raised their price objective on Principal Financial Group from $92.00 to $94.00 and gave the stock an “in-line” rating in a research report on Thursday, October 9th. Piper Sandler set a $94.00 price objective on Principal Financial Group and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods raised their price objective on Principal Financial Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research report on Thursday, October 30th. Finally, Barclays raised their price objective on Principal Financial Group from $80.00 to $83.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $88.90.

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.