Applied Finance Capital Management LLC Takes Position in Principal Financial Group, Inc. (NYSE:PFG)

Key Points

• Applied Finance Capital Management LLC has invested approximately $482,000 in Principal Financial Group, acquiring 5,711 shares of the company during the first quarter.
• Principal Financial Group recently reported an earnings per share of $1.81, missing the consensus estimate by $0.02, with analysts predicting an EPS of 8.5 for the current fiscal year.
• As of the latest reports, the stock has a market capitalization of $18.17 billion and a PE ratio of 12.13, with an average consensus price target of $86.30.

Applied Finance Capital Management LLC bought a new position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,711 shares of the company's stock, valued at approximately $482,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. bought a new stake in shares of Principal Financial Group during the first quarter worth $32,000. Navigoe LLC bought a new stake in shares of Principal Financial Group during the fourth quarter worth $37,000. Ameriflex Group Inc. bought a new stake in shares of Principal Financial Group during the fourth quarter worth $37,000. Covestor Ltd lifted its position in shares of Principal Financial Group by 144.3% during the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock worth $42,000 after purchasing an additional 319 shares during the last quarter. Finally, MorganRosel Wealth Management LLC bought a new stake in shares of Principal Financial Group during the first quarter worth $46,000. Institutional investors own 75.08% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Morgan Stanley restated an "underweight" rating and issued a $75.00 price objective (up from $71.00) on shares of Principal Financial Group in a report on Monday, July 14th. Keefe, Bruyette & Woods upped their price objective on Principal Financial Group from $87.00 to $90.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. UBS Group raised 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 note on Tuesday. Piper Sandler increased their target price on Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Finally, JPMorgan Chase & Co. raised their target price on Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $86.90.

Principal Financial Group Stock Down 2.6%

PFG stock traded down $2.10 during trading on Wednesday, hitting $78.09. 645,788 shares of the company's stock were exchanged, compared to its average volume of 1,398,759. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $91.97. The business has a 50-day moving average price of $78.61 and a two-hundred day moving average price of $79.96. The stock has a market capitalization of $17.51 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.76 and a beta of 0.99.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, beating 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 period in the previous year, the company earned $1.63 earnings per share. As a group, equities research analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Thursday, September 4th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.00%. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.76. Principal Financial Group's payout ratio is presently 65.10%.

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.