Blackhawk Capital Partners LLC. purchased a new stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,336 shares of the company's stock, valued at approximately $281,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of PFG. Victory Capital Management Inc. increased its holdings in Principal Financial Group by 2.8% in the 4th quarter. Victory Capital Management Inc. now owns 410,926 shares of the company's stock valued at $31,810,000 after buying an additional 11,187 shares during the period. Atria Investments Inc bought a new position in shares of Principal Financial Group in the 4th quarter valued at about $304,000. Proficio Capital Partners LLC bought a new position in shares of Principal Financial Group in the 4th quarter valued at about $4,632,000. Raymond James Financial Inc. bought a new position in shares of Principal Financial Group in the 4th quarter valued at about $15,821,000. Finally, Callan Family Office LLC acquired a new stake in shares of Principal Financial Group in the 4th quarter valued at approximately $272,000. Institutional investors own 75.08% of the company's stock.
Principal Financial Group Stock Up 0.9%
Shares of NYSE PFG traded up $0.75 during midday trading on Thursday, reaching $81.61. The company's stock had a trading volume of 687,864 shares, compared to its average volume of 1,320,285. 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 fifty-two week low of $68.39 and a fifty-two week high of $91.98. The stock has a market capitalization of $18.30 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.76 and a beta of 0.99. The stock has a 50 day simple moving average of $78.26 and a 200-day simple moving average of $79.68.
Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter last year, the company earned $1.65 earnings per share. Equities research analysts predict that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.
Principal Financial Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Monday, June 2nd were paid a $0.76 dividend. The ex-dividend date was Monday, June 2nd. This is a boost from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a dividend yield of 3.73%. Principal Financial Group's dividend payout ratio (DPR) is currently 65.10%.
Analysts Set New Price Targets
A number of analysts recently weighed in on PFG shares. Wells Fargo & Company increased their price target on shares of Principal Financial Group from $69.00 to $73.00 and gave the company an "underweight" rating in a research report on Thursday. Piper Sandler increased their price target on shares of Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. JPMorgan Chase & Co. increased their price target on shares of Principal Financial Group from $92.00 to $101.00 and gave the company an "overweight" rating in a research report on Tuesday. Barclays increased 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. Finally, Keefe, Bruyette & Woods increased their price target on shares of Principal Financial Group from $87.00 to $90.00 and gave the company a "market perform" rating in a research report on Wednesday. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $83.75.
Read Our Latest Research Report on PFG
Principal Financial Group Company Profile
(
Free Report)
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.
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