AXQ Capital LP Makes New Investment in Principal Financial Group, Inc. $PFG

AXQ Capital LP purchased a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,912 shares of the company’s stock, valued at approximately $311,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group purchased a new stake in Principal Financial Group during the 2nd quarter valued at $25,000. Traub Capital Management LLC bought a new position in shares of Principal Financial Group during the second quarter valued at $26,000. American National Bank & Trust bought a new position in shares of Principal Financial Group during the second quarter valued at $28,000. Curio Wealth LLC boosted its position in shares of Principal Financial Group by 37,800.0% during the second quarter. Curio Wealth LLC now owns 379 shares of the company’s stock valued at $30,000 after buying an additional 378 shares during the last quarter. Finally, Private Wealth Asset Management LLC increased its holdings in Principal Financial Group by 163.4% in the 2nd quarter. Private Wealth Asset Management LLC now owns 403 shares of the company’s stock worth $32,000 after buying an additional 250 shares in the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Price Performance

Shares of NYSE:PFG opened at $84.56 on Tuesday. The company has a market capitalization of $18.84 billion, a P/E ratio of 12.66, a P/E/G ratio of 0.76 and a beta of 1.02. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $90.31. The firm’s 50 day simple moving average is $82.03 and its two-hundred day simple moving average is $80.03. 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 announced its quarterly earnings data on Monday, October 27th. The company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.12. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period in the previous year, the firm earned $2.05 earnings per share. Research analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Wednesday, December 3rd will be given a $0.79 dividend. The ex-dividend date is Wednesday, December 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a dividend yield of 3.7%. Principal Financial Group’s dividend payout ratio (DPR) is presently 46.00%.

Insider Buying and Selling at Principal Financial Group

In related news, EVP Wee Yee Cheong sold 1,887 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $85.04, for a total transaction of $160,470.48. Following the completion of the sale, the executive vice president owned 81,421 shares in the company, valued at approximately $6,924,041.84. This trade represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Morgan Stanley upgraded shares of Principal Financial Group from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $80.00 to $81.00 in a research note on Thursday, October 23rd. Wells Fargo & Company boosted their price objective on shares of Principal Financial Group from $73.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, October 29th. Barclays raised their target price on shares of Principal Financial Group from $80.00 to $83.00 and gave the stock an “underweight” rating in a report on Wednesday, October 8th. Evercore ISI lifted their target price on shares of 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. Finally, UBS Group increased their price target on Principal Financial Group from $85.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, July 29th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Principal Financial Group currently has an average rating of “Hold” and an average price target of $88.90.

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.