Pacer Advisors Inc. lowered its stake in Principal Financial Group, Inc. (NYSE:PFG – Free Report) by 1.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,993 shares of the company’s stock after selling 140 shares during the period. Pacer Advisors Inc.’s holdings in Principal Financial Group were worth $1,061,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in PFG. GPS Wealth Strategies Group LLC acquired a new stake in shares of Principal Financial Group in the first quarter worth $28,000. Steward Financial Group LLC acquired a new stake in shares of Principal Financial Group in the fourth quarter worth $29,000. ICA Group Wealth Management LLC lifted its stake in shares of Principal Financial Group by 100.0% in the first quarter. ICA Group Wealth Management LLC now owns 400 shares of the company’s stock worth $30,000 after buying an additional 200 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Principal Financial Group during the 1st quarter worth about $32,000. Finally, Clear Street Markets LLC lifted its position in shares of Principal Financial Group by 96.1% during the 1st quarter. Clear Street Markets LLC now owns 449 shares of the company’s stock worth $33,000 after purchasing an additional 220 shares during the last quarter. Institutional investors and hedge funds own 70.68% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. StockNews.com upgraded shares of Principal Financial Group from a “sell” rating to a “hold” rating in a research note on Friday, September 8th. Keefe, Bruyette & Woods upgraded shares of Principal Financial Group from an “underperform” rating to a “market perform” rating and dropped their price objective for the company from $77.00 to $75.00 in a research note on Thursday, June 8th. Piper Sandler increased their price objective on shares of Principal Financial Group from $75.00 to $82.00 in a research note on Friday, July 7th. 3M restated an “upgrade” rating on shares of Principal Financial Group in a research note on Friday, June 9th. Finally, Barclays dropped their price objective on shares of Principal Financial Group from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, July 31st. Five investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $76.54.
Principal Financial Group Trading Down 1.0 %
Shares of PFG opened at $72.00 on Thursday. The stock has a fifty day moving average price of $77.12 and a two-hundred day moving average price of $74.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.29 and a current ratio of 0.29. Principal Financial Group, Inc. has a 52-week low of $65.17 and a 52-week high of $96.17. The company has a market cap of $17.40 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 1.57 and a beta of 1.31.
Principal Financial Group (NYSE:PFG – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The company reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.13). Principal Financial Group had a net margin of 11.52% and a return on equity of 15.85%. The business had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.49 billion. Analysts predict that Principal Financial Group, Inc. will post 6.47 EPS for the current fiscal year.
Principal Financial Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 7th will be paid a $0.65 dividend. The ex-dividend date is Wednesday, September 6th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.64. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.61%. Principal Financial Group’s payout ratio is currently 40.19%.
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 Global Investors, Principal International, and U.S. Insurance Solutions segments.
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