ASR Vermogensbeheer N.V. Makes New $1.54 Million Investment in Principal Financial Group, Inc. (NYSE:PFG)

Key Points

• ASR Vermogensbeheer N.V. acquired 18,245 shares of Principal Financial Group, Inc. valued at approximately $1.54 million in the first quarter of the year.
• The company announced an increase in its quarterly dividend to $0.78, which reflects a 4.1% yield and a payout ratio of 62.78%.
• Principal Financial Group's stock has a current price of $76.59 with a market cap of $17.06 billion and a consensus rating of "Hold" from analysts.

ASR Vermogensbeheer N.V. purchased a new position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 18,245 shares of the company's stock, valued at approximately $1,539,000.

A number of other large investors have also bought and sold shares of PFG. Tompkins Financial Corp purchased a new stake in Principal Financial Group during the first quarter valued at about $55,000. Blackhawk Capital Partners LLC. bought a new stake in Principal Financial Group in the 1st quarter worth approximately $281,000. SG Americas Securities LLC purchased a new position in shares of Principal Financial Group during the 1st quarter valued at $943,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in Principal Financial Group by 2.6% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 526,649 shares of the company's stock valued at $44,433,000 after buying an additional 13,483 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Principal Financial Group by 802.2% during the 1st quarter. Victory Capital Management Inc. now owns 3,707,534 shares of the company's stock valued at $312,805,000 after purchasing an additional 3,296,608 shares during the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Down 0.1%

Shares of PFG traded down $0.11 on Monday, hitting $76.48. The company's stock had a trading volume of 921,952 shares, compared to its average volume of 1,416,784. The firm has a market capitalization of $17.04 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 0.76 and a beta of 1.00. The firm's fifty day moving average price is $78.39 and its 200-day moving average price is $79.71. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.97.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The company reported $2.16 EPS for the quarter, topping analysts' consensus estimates of $1.97 by $0.19. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same quarter in the previous year, the company earned $1.63 earnings per share. On average, equities research analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be issued a dividend of $0.78 per share. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.12 annualized dividend and a dividend yield of 4.1%. Principal Financial Group's dividend payout ratio (DPR) is 62.78%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PFG shares. Morgan Stanley reaffirmed an "underweight" rating and issued a $75.00 price objective (up from $71.00) on shares of Principal Financial Group in a research note on Monday, July 14th. Keefe, Bruyette & Woods cut their price target on shares of Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating for the company in a report on Monday, August 4th. Piper Sandler raised their target price on shares of Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Barclays boosted their price target on shares of Principal Financial Group from $76.00 to $80.00 and gave the stock an "underweight" rating in a research note on Monday, July 7th. Finally, Wells Fargo & Company decreased their price objective on Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating on the stock in a research note on Wednesday, July 30th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $86.70.

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 Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.