Blackhawk Capital Partners LLC. Purchases New Position in Principal Financial Group, Inc. (NYSE:PFG)

Blackhawk Capital Partners LLC. acquired a new stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 3,336 shares of the company's stock, valued at approximately $281,000.

Other institutional investors have also added to or reduced their stakes in the company. Argent Trust Co increased its stake in Principal Financial Group by 0.6% in the 4th quarter. Argent Trust Co now owns 29,345 shares of the company's stock valued at $2,272,000 after buying an additional 161 shares during the last quarter. WFA Asset Management Corp increased its stake in Principal Financial Group by 32.3% in the 1st quarter. WFA Asset Management Corp now owns 684 shares of the company's stock valued at $59,000 after buying an additional 167 shares during the last quarter. Mather Group LLC. increased its stake in Principal Financial Group by 11.0% in the 1st quarter. Mather Group LLC. now owns 1,803 shares of the company's stock valued at $152,000 after buying an additional 178 shares during the last quarter. Erste Asset Management GmbH increased its stake in Principal Financial Group by 4.8% in the 4th quarter. Erste Asset Management GmbH now owns 4,400 shares of the company's stock valued at $342,000 after buying an additional 200 shares during the last quarter. Finally, HighPoint Advisor Group LLC increased its stake in Principal Financial Group by 2.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 9,778 shares of the company's stock valued at $836,000 after buying an additional 203 shares during the last quarter. 75.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PFG. Barclays lifted 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 note on Monday. UBS Group lowered their price target on shares of Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Keefe, Bruyette & Woods lifted 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 note on Wednesday. Piper Sandler lifted 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 note on Thursday, July 3rd. Finally, Morgan Stanley lifted their price target on shares of Principal Financial Group from $67.00 to $71.00 and gave the company an "underweight" rating in a research note on Monday, May 19th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $83.75.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock traded down $1.23 during trading on Friday, hitting $80.37. 822,223 shares of the stock were exchanged, compared to its average volume of 1,320,085. The stock has a market capitalization of $18.02 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 0.76 and a beta of 0.99. The company has a fifty day moving average price of $78.48 and a 200-day moving average price of $79.73. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $91.98. 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 (NYSE:PFG - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The company reported $1.81 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 business posted $1.65 earnings per share. As a group, equities analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared 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 of this dividend was Monday, June 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.78%. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's dividend payout ratio is 65.10%.

Principal Financial Group Company Profile

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.