B. Metzler seel. Sohn & Co. AG Invests $3.42 Million in Principal Financial Group, Inc. $PFG

Key Points

• B. Metzler seel. Sohn & Co. AG acquired a new $3.42 million stake in Principal Financial Group, purchasing 31,771 shares during the second quarter. Institutional investors collectively own 75.08% of the company.
• Principal Financial Group reported quarterly EPS of $2.50, surpassing estimates of $2.33, although revenue of $3.99 billion fell short of the $4.11 billion consensus forecast.
• The company raised its quarterly dividend from $0.82 to $0.84 per share, equivalent to a 3.0% annualized yield. Wall Street analysts maintain a consensus “Hold” rating with an average price target of $106.67.

B. Metzler seel. Sohn & Co. AG bought a new stake in Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 31,771 shares of the company's stock, valued at approximately $3,424,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. DV Equities LLC purchased a new stake in shares of Principal Financial Group during the 4th quarter valued at $25,000. Hilton Head Capital Partners LLC bought a new stake in shares of Principal Financial Group during the 4th quarter worth $26,000. Valley Wealth Managers Inc. purchased a new position in Principal Financial Group in the first quarter worth $27,000. MBM Wealth Consultants LLC bought a new position in Principal Financial Group in the first quarter valued at $28,000. Finally, Quest 10 Wealth Builders Inc. increased its stake in Principal Financial Group by 343.6% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company's stock valued at $30,000 after acquiring an additional 268 shares during the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

Principal Financial Group stock opened at $110.75 on Friday. The firm has a fifty day simple moving average of $111.67 and a two-hundred day simple moving average of $101.47. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a twelve month low of $77.90 and a twelve month high of $116.61. The company has a market capitalization of $23.71 billion, a PE ratio of 15.73, a P/E/G ratio of 1.01 and a beta of 0.88.

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 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 analyst estimates of $4.11 billion. During the same quarter in the previous year, the company posted $2.16 EPS. Research analysts expect that Principal Financial Group, Inc. will post 9.57 EPS for the current year.

Principal Financial Group Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PFG shares. Citigroup downgraded Principal Financial Group from a "sell" rating to an "underperform" rating in a research report on Wednesday, June 24th. Piper Sandler increased their price objective on Principal Financial Group from $113.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, June 24th. Morgan Stanley increased their price objective on Principal Financial Group from $107.00 to $112.00 and gave the company an "equal weight" rating in a research report on Monday, July 6th. Evercore set a $108.00 price objective on Principal Financial Group in a report on Monday, April 27th. Finally, Jefferies Financial Group boosted their target price on Principal Financial Group from $91.00 to $98.00 and gave the stock a "hold" rating in a research report on Friday, July 10th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $106.67.

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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