ASR Vermogensbeheer N.V. Takes $1.54 Million Position 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. acquired a new stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,245 shares of the company's stock, valued at approximately $1,539,000.

Several other institutional investors also recently bought and sold shares of the company. iA Global Asset Management Inc. acquired a new position in Principal Financial Group in the 1st quarter valued at $436,000. Atria Wealth Solutions Inc. purchased a new stake in shares of Principal Financial Group during the 1st quarter worth $429,000. Raiffeisen Bank International AG boosted its position in shares of Principal Financial Group by 12.6% during the 1st quarter. Raiffeisen Bank International AG now owns 1,380 shares of the company's stock worth $115,000 after purchasing an additional 154 shares in the last quarter. Argent Trust Co boosted its position in shares of Principal Financial Group by 2.9% during the 1st quarter. Argent Trust Co now owns 30,199 shares of the company's stock worth $2,548,000 after purchasing an additional 854 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Principal Financial Group during the 1st quarter worth $211,000. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Trading Up 0.9%

NYSE:PFG traded up $0.68 on Wednesday, reaching $77.92. The stock had a trading volume of 590,226 shares, compared to its average volume of 1,413,373. The company has a market cap of $17.36 billion, a price-to-earnings ratio of 11.67, a P/E/G ratio of 0.76 and a beta of 1.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The firm's fifty day moving average is $78.38 and its two-hundred day moving average is $79.65. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $91.97.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The company reported $2.16 EPS for the quarter, beating analysts' consensus estimates of $1.97 by $0.19. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter in the prior year, the company posted $1.63 earnings per share. Equities analysts expect that Principal Financial Group, Inc. will post 8.5 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 26th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.0%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.76. Principal Financial Group's dividend payout ratio is currently 62.78%.

Analysts Set New Price Targets

PFG has been the topic of several research analyst reports. Barclays boosted their target price on shares of Principal Financial Group from $76.00 to $80.00 and gave the stock an "underweight" rating in a research report on Monday, July 7th. Morgan Stanley restated an "underweight" rating and set a $75.00 target price (up from $71.00) on shares of Principal Financial Group in a research report on Monday, July 14th. Piper Sandler boosted their price objective on shares of Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, UBS Group boosted their price objective on shares of Principal Financial Group from $85.00 to $87.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $86.70.

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.