10,349 Shares in Principal Financial Group, Inc. $PFG Bought by AG2R LA Mondiale Gestion D Actifs

Key Points

• AG2R LA Mondiale Gestion D Actifs has acquired a new position in Principal Financial Group, purchasing 10,349 shares valued at approximately $806,000.
• The company has recently announced an increase in its quarterly dividend to $0.78, reflecting an annualized dividend yield of 3.8%.
• A number of institutional investors have modified their holdings in Principal Financial Group, with 75.08% of the company's stock now owned by institutional investors.

AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,349 shares of the company's stock, valued at approximately $806,000.

Several other large investors have also recently added to or reduced their stakes in the company. Voya Investment Management LLC raised its holdings in Principal Financial Group by 6.1% in the 1st quarter. Voya Investment Management LLC now owns 65,972 shares of the company's stock valued at $5,566,000 after acquiring an additional 3,771 shares in the last quarter. Strs Ohio bought a new stake in Principal Financial Group during the 1st quarter worth approximately $2,025,000. Acadian Asset Management LLC boosted its position in Principal Financial Group by 21.7% in the 1st quarter. Acadian Asset Management LLC now owns 100,634 shares of the company's stock valued at $8,485,000 after buying an additional 17,958 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Principal Financial Group by 7.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,889 shares of the company's stock valued at $159,000 after buying an additional 134 shares during the last quarter. Finally, Belpointe Asset Management LLC lifted its stake in shares of Principal Financial Group by 17.0% in the 1st quarter. Belpointe Asset Management LLC now owns 4,726 shares of the company's stock valued at $399,000 after purchasing an additional 686 shares during the period. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Trading Down 3.4%

PFG traded down $2.86 during trading on Tuesday, reaching $80.09. 1,766,422 shares of the stock traded hands, compared to its average volume of 1,386,383. The stock's 50-day moving average is $79.44 and its 200 day moving average is $78.90. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.97. The stock has a market capitalization of $17.84 billion, a PE ratio of 11.99, a P/E/G ratio of 0.76 and a beta of 1.03. 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 (NYSE:PFG - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, beating the consensus estimate 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 last year, the company earned $1.63 EPS. Equities analysts anticipate that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm 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 $0.78 dividend. This is a boost 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 yield of 3.9%. Principal Financial Group's payout ratio is 62.78%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PFG. UBS Group increased their price target on Principal Financial Group from $85.00 to $87.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. lifted their price target on Principal Financial Group from $92.00 to $101.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company decreased their price objective on Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating for the company in a report on Wednesday, July 30th. Keefe, Bruyette & Woods decreased their price objective on 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. Finally, Barclays lifted their price target on Principal Financial Group from $76.00 to $80.00 and gave the stock an "underweight" rating in a report on Monday, July 7th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Principal Financial Group has a consensus rating of "Reduce" and a consensus price target of $86.90.

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.