Ausdal Financial Partners Inc. Invests $1 Million in Principal Financial Group, Inc. $PFG

Ausdal Financial Partners Inc. bought a new stake in Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,328 shares of the company's stock, valued at approximately $1,005,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Principal Financial Group during the second quarter valued at approximately $2,157,181,000. Bank of America Corp DE grew its holdings in shares of Principal Financial Group by 9.6% in the 2nd quarter. Bank of America Corp DE now owns 12,370,852 shares of the company's stock valued at $982,617,000 after buying an additional 1,083,991 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Principal Financial Group by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,886,509 shares of the company's stock worth $350,187,000 after acquiring an additional 119,327 shares in the last quarter. Invesco Ltd. grew its position in shares of Principal Financial Group by 23.2% in the 3rd quarter. Invesco Ltd. now owns 3,376,797 shares of the company's stock valued at $279,970,000 after purchasing an additional 636,334 shares during the period. Finally, Norges Bank acquired a new position in shares of Principal Financial Group in the 4th quarter valued at approximately $273,276,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on PFG. Keefe, Bruyette & Woods raised their target price on shares of Principal Financial Group from $102.00 to $112.00 and gave the stock a "market perform" rating in a report on Monday, July 13th. Piper Sandler upped their price target on shares of Principal Financial Group from $113.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, June 24th. Atlantic Securities set a $94.00 price objective on shares of Principal Financial Group in a research report on Wednesday, July 15th. Weiss Ratings raised shares of Principal Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Principal Financial Group from $106.00 to $107.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Principal Financial Group has an average rating of "Hold" and a consensus price target of $106.67.

Principal Financial Group Stock Performance

PFG opened at $112.21 on Thursday. The firm has a market capitalization of $24.02 billion, a PE ratio of 15.94, a PEG ratio of 1.01 and a beta of 0.88. 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 52-week low of $77.90 and a 52-week high of $116.61. The business's 50-day simple moving average is $111.75 and its 200 day simple moving average is $101.85.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last released its earnings results on Monday, July 27th. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.17. The business had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $4.11 billion. Principal Financial Group had a net margin of 9.93% and a return on equity of 16.49%. During the same period last year, the business earned $2.16 earnings per share. As a group, sell-side analysts expect that Principal Financial Group, Inc. will post 9.62 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 3rd will be given a $0.84 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.82. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.0%. Principal Financial Group's payout ratio is 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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