Ameritas Advisory Services LLC Buys Shares of 922 Principal Financial Group, Inc. (NASDAQ:PFG)

Posted by on Jul 29th, 2023

Ameritas Advisory Services LLC bought a new stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG – Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 922 shares of the company’s stock, valued at approximately $69,000.

A number of other large investors also recently added to or reduced their stakes in the business. GPS Wealth Strategies Group LLC bought a new stake in shares of Principal Financial Group in the 1st quarter valued at about $28,000. Steward Financial Group LLC bought a new stake in shares of Principal Financial Group in the 4th quarter valued at about $29,000. Hanseatic Management Services Inc. bought a new stake in shares of Principal Financial Group in the 4th quarter valued at about $34,000. Point72 Middle East FZE bought a new stake in shares of Principal Financial Group in the 4th quarter valued at about $39,000. Finally, Ahrens Investment Partners LLC bought a new stake in shares of Principal Financial Group in the 1st quarter valued at about $45,000. 74.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PFG has been the subject of a number of recent analyst reports. Bank of America cut Principal Financial Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $81.00 to $78.00 in a research note on Monday, May 1st. Royal Bank of Canada lowered their target price on Principal Financial Group from $88.00 to $83.00 in a research note on Monday, May 1st. StockNews.com raised Principal Financial Group from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Wells Fargo & Company began coverage on Principal Financial Group in a research note on Tuesday, April 25th. They set an “equal weight” rating and a $79.00 target price for the company. Finally, Barclays increased their target price on Principal Financial Group from $75.00 to $78.00 in a research note on Tuesday, July 11th. Five analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $77.15.

Principal Financial Group Price Performance

Shares of PFG opened at $79.50 on Friday. The stock has a market capitalization of $19.30 billion, a P/E ratio of 4.72, a P/E/G ratio of 1.48 and a beta of 1.30. Principal Financial Group, Inc. has a twelve month low of $65.00 and a twelve month high of $96.17. The company has a 50 day moving average of $75.00 and a 200-day moving average of $72.84. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46.

Principal Financial Group (NASDAQ:PFG – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The company reported $1.53 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.13). The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.49 billion. Principal Financial Group had a net margin of 24.97% and a return on equity of 16.04%. During the same period in the previous year, the company posted $1.65 EPS. As a group, equities research analysts forecast that Principal Financial Group, Inc. will post 6.67 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 7th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 3.27%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.64. Principal Financial Group’s dividend payout ratio is presently 15.21%.

Principal Financial Group Company Profile

(Free Report)

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 Global Investors, Principal International, and U.S. Insurance Solutions segments.

See Also

Institutional Ownership by Quarter for Principal Financial Group (NASDAQ:PFG)

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