Andra AP fonden Acquires 4,700 Shares of Principal Financial Group, Inc. $PFG

Andra AP fonden raised its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 28.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,200 shares of the company’s stock after purchasing an additional 4,700 shares during the period. Andra AP fonden’s holdings in Principal Financial Group were worth $1,684,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in Principal Financial Group by 802.2% during the first quarter. Victory Capital Management Inc. now owns 3,707,534 shares of the company’s stock valued at $312,805,000 after buying an additional 3,296,608 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Principal Financial Group by 114.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,613,143 shares of the company’s stock valued at $220,471,000 after buying an additional 1,393,008 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Principal Financial Group by 1.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,468,728 shares of the company’s stock valued at $123,917,000 after acquiring an additional 20,221 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Principal Financial Group by 1.7% in the 1st quarter. Royal Bank of Canada now owns 1,080,097 shares of the company’s stock worth $91,128,000 after purchasing an additional 17,969 shares in the last quarter. Finally, AustralianSuper Pty Ltd raised its stake in shares of Principal Financial Group by 11.2% in the second quarter. AustralianSuper Pty Ltd now owns 993,643 shares of the company’s stock worth $78,925,000 after purchasing an additional 100,397 shares during the last quarter. 75.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PFG has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on Principal Financial Group from $73.00 to $74.00 and gave the company an “underweight” rating in a research report on Wednesday, October 29th. UBS Group raised their price target on shares of Principal Financial Group from $85.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, July 29th. Keefe, Bruyette & Woods lifted their price target on shares of Principal Financial Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research note on Thursday, October 30th. Morgan Stanley raised shares of Principal Financial Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $80.00 to $81.00 in a report on Thursday, October 23rd. Finally, Barclays increased their price objective on shares of Principal Financial Group from $80.00 to $83.00 and gave the company an “underweight” rating in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $88.90.

Principal Financial Group Price Performance

NYSE PFG opened at $82.86 on Friday. The business’s fifty day moving average is $81.42 and its 200 day moving average is $79.37. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $90.31. 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 company has a market capitalization of $18.46 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 0.76 and a beta of 1.02.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Monday, October 27th. The company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the business earned $2.05 earnings per share. Sell-side analysts predict 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 announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Wednesday, December 3rd will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Wednesday, December 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.78. Principal Financial Group’s dividend payout ratio (DPR) is 46.00%.

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.