New Mexico Educational Retirement Board raised its position in Principal Financial Group, Inc. (NYSE:PFG – Free Report) by 4.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,054 shares of the company’s stock after buying an additional 500 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Principal Financial Group were worth $838,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC grew its holdings in Principal Financial Group by 17.9% in the 1st quarter. LPL Financial LLC now owns 118,643 shares of the company’s stock valued at $8,818,000 after buying an additional 18,006 shares in the last quarter. Jacobi Capital Management LLC raised its stake in Principal Financial Group by 35.1% in the first quarter. Jacobi Capital Management LLC now owns 4,676 shares of the company’s stock valued at $348,000 after purchasing an additional 1,215 shares in the last quarter. Private Advisor Group LLC bought a new stake in Principal Financial Group during the first quarter worth about $2,312,000. Integrated Wealth Concepts LLC grew its stake in Principal Financial Group by 16.3% during the first quarter. Integrated Wealth Concepts LLC now owns 8,022 shares of the company’s stock worth $596,000 after buying an additional 1,123 shares in the last quarter. Finally, Park Avenue Securities LLC raised its position in shares of Principal Financial Group by 8.5% in the 1st quarter. Park Avenue Securities LLC now owns 35,156 shares of the company’s stock valued at $2,613,000 after buying an additional 2,741 shares in the last quarter. 70.68% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
PFG has been the subject of several recent analyst reports. 3M restated an “upgrade” rating on shares of Principal Financial Group in a research note on Friday, June 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $83.00 price objective on shares of Principal Financial Group in a research note on Monday, July 31st. Keefe, Bruyette & Woods raised Principal Financial Group from an “underperform” rating to a “market perform” rating and lowered their target price for the stock from $77.00 to $75.00 in a research note on Thursday, June 8th. Jefferies Financial Group decreased their price target on shares of Principal Financial Group from $69.00 to $66.00 and set a “hold” rating on the stock in a report on Thursday, September 14th. Finally, Barclays decreased their price target on shares of Principal Financial Group from $78.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, July 31st. Five analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and an average target price of $76.38.
Principal Financial Group Trading Down 2.6 %
PFG opened at $70.21 on Tuesday. Principal Financial Group, Inc. has a fifty-two week low of $65.17 and a fifty-two week high of $96.17. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $16.97 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 1.51 and a beta of 1.31. The company’s 50 day moving average price is $76.55 and its two-hundred day moving average price is $74.12.
Principal Financial Group (NYSE:PFG – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The company reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.13). The firm had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.49 billion. Principal Financial Group had a return on equity of 15.85% and a net margin of 11.52%. As a group, research analysts predict that Principal Financial Group, Inc. will post 6.47 earnings per share for the current year.
Principal Financial Group Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, September 7th were given a $0.65 dividend. The ex-dividend date was Wednesday, September 6th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.70%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.64. Principal Financial Group’s payout ratio is 40.19%.
Principal Financial Group 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 Global Investors, Principal International, and U.S. Insurance Solutions segments.
Featured Articles
- Five stocks we like better than Principal Financial Group
- When to Sell a Stock for Profit or Loss
- Here’s Why Cloudflare may be the Ultimate Cloud Stock to Own
- 3 Stocks to Protect Your Portfolio from the Coronavirus Contagion
- 5 Reasons Why Arcos Dorados Is A Perfect Investment for 2024
- 3 REITs to Buy and Hold for the Long Term
- Nvidia Stock, Christmas Comes Early If You’re On the Fence
Receive News & Ratings for Principal Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principal Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.
