Atria Wealth Solutions Inc. Makes New $429,000 Investment in Principal Financial Group, Inc. $PFG

Key Points

• Atria Wealth Solutions Inc. has made a significant investment by purchasing 5,088 shares of Principal Financial Group for approximately $429,000.
• Institutional investors collectively own 75.08% of Principal Financial Group's stock, with notable increases in holdings from firms such as Victory Capital Management and Deutsche Bank AG.
• The company recently raised its quarterly dividend to $0.78 per share, reflecting a positive shift from its previous dividend and representing a 4.0% yield.

Atria Wealth Solutions Inc. acquired a new position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 5,088 shares of the company's stock, valued at approximately $429,000.

Several other hedge funds have also recently made changes to their positions in the business. von Borstel & Associates Inc. purchased a new position in shares of Principal Financial Group in the 1st quarter valued at approximately $32,000. Ameriflex Group Inc. bought a new position in Principal Financial Group in the fourth quarter worth $37,000. Navigoe LLC bought a new stake in shares of Principal Financial Group during the 4th quarter valued at $37,000. MorganRosel Wealth Management LLC purchased a new stake in shares of Principal Financial Group in the 1st quarter worth about $46,000. Finally, Motco increased its stake in shares of Principal Financial Group by 106.1% in the 1st quarter. Motco now owns 606 shares of the company's stock worth $51,000 after acquiring an additional 312 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Price Performance

Shares of NYSE PFG traded down $0.02 during midday trading on Monday, reaching $77.62. The stock had a trading volume of 452,840 shares, compared to its average volume of 1,411,480. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The stock has a 50-day moving average of $78.47 and a 200-day moving average of $79.52. The company has a market capitalization of $17.29 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 0.76 and a beta of 1.00. 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 issued its earnings results on Monday, July 28th. The company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 prior year, the firm posted $1.63 EPS. As a group, research analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors 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 is a boost from Principal Financial Group's previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a yield of 4.0%. Principal Financial Group's dividend payout ratio is currently 62.78%.

Analysts Set New Price Targets

PFG has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price target on shares of Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Barclays raised their price target on shares of Principal Financial Group from $76.00 to $80.00 and gave the company an "underweight" rating in a research report on Monday, July 7th. Keefe, Bruyette & Woods reduced their target price 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. Morgan Stanley set a $77.00 price objective on shares of Principal Financial Group and gave the company an "underweight" rating in a report on Monday. Finally, Wells Fargo & Company decreased their target price on shares of Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating for the company in a research note on Wednesday, July 30th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $86.90.

About Principal Financial Group

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.