AssuredPartners Investment Advisors LLC Buys New Holdings in Principal Financial Group, Inc. $PFG

AssuredPartners Investment Advisors LLC purchased a new stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 12,257 shares of the company's stock, valued at approximately $1,321,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Principal Financial Group in the 2nd quarter worth approximately $2,157,181,000. Norges Bank purchased a new stake in shares of Principal Financial Group during the 4th quarter valued at approximately $273,276,000. AQR Capital Management LLC lifted its stake in shares of Principal Financial Group by 112.8% during the 4th quarter. AQR Capital Management LLC now owns 2,348,233 shares of the company's stock valued at $207,138,000 after buying an additional 1,244,668 shares in the last quarter. Deutsche Bank AG bought a new position in Principal Financial Group in the 2nd quarter worth approximately $132,735,000. Finally, Bank of New York Mellon Corp purchased a new position in Principal Financial Group in the 2nd quarter valued at approximately $124,372,000. Institutional investors own 75.08% of the company's stock.

Wall Street Analysts Forecast Growth

PFG has been the topic of a number of recent analyst reports. Bank of America increased their price objective on Principal Financial Group from $94.00 to $104.00 and gave the stock an "underperform" rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods upped their price objective on Principal Financial Group from $102.00 to $112.00 and gave the stock a "market perform" rating in a report on Monday, July 13th. Jefferies Financial Group increased their price objective on Principal Financial Group from $91.00 to $98.00 and gave the company a "hold" rating in a research report on Friday, July 10th. Citigroup cut Principal Financial Group from a "sell" rating to an "underperform" rating in a report on Wednesday, June 24th. Finally, Barclays upped their target price on Principal Financial Group from $87.00 to $92.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Principal Financial Group currently has an average rating of "Hold" and an average target price of $106.67.

Principal Financial Group Price Performance

Shares of PFG stock opened at $111.64 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.28 and a current ratio of 0.28. Principal Financial Group, Inc. has a fifty-two week low of $77.34 and a fifty-two week high of $116.61. The firm has a market cap of $23.90 billion, a P/E ratio of 15.86, a P/E/G ratio of 1.03 and a beta of 0.88. The business's 50 day moving average price is $111.66 and its 200-day moving average price is $101.30.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last released its earnings results on Monday, July 27th. The company reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.33 by $0.17. Principal Financial Group had a return on equity of 16.49% and a net margin of 9.93%.The company had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $4.11 billion. During the same quarter last year, the business posted $2.16 EPS. On average, equities research analysts anticipate that Principal Financial Group, Inc. will post 9.57 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 3rd will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Thursday, September 3rd. This is an increase from Principal Financial Group's previous quarterly dividend of $0.82. Principal Financial Group's dividend payout ratio (DPR) is presently 46.59%.

Principal Financial Group Profile

Principal Financial Group NASDAQ: PFG is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm's business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal's product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.

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