Callan Family Office LLC Takes Position in Principal Financial Group, Inc. $PFG

Key Points

• Callan Family Office LLC has acquired a new position in Principal Financial Group, buying 4,718 shares valued at approximately $375,000 during Q2.
• In recent analyst ratings, Keefe, Bruyette & Woods raised the target price for Principal Financial Group from $88.00 to $90.00, while Wells Fargo & Company set it at $73.00 with an "underweight" rating.
• Principal Financial Group has declared a quarterly dividend of $0.78 per share, marking an increase from its previous dividend of $0.76, resulting in an annual yield of 3.9%.

Callan Family Office LLC bought a new position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,718 shares of the company's stock, valued at approximately $375,000.

Other hedge funds have also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group acquired a new stake in Principal Financial Group during the second quarter worth approximately $25,000. American National Bank & Trust acquired a new stake in Principal Financial Group during the second quarter worth approximately $28,000. von Borstel & Associates Inc. acquired a new stake in Principal Financial Group during the first quarter worth approximately $32,000. Zions Bancorporation National Association UT acquired a new stake in Principal Financial Group during the first quarter worth approximately $34,000. Finally, GKV Capital Management Co. Inc. acquired a new stake in Principal Financial Group during the first quarter worth approximately $45,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Principal Financial Group from $88.00 to $90.00 and gave the stock a "market perform" rating in a research report on Thursday, October 9th. Evercore ISI increased their price target on shares of Principal Financial Group from $92.00 to $94.00 and gave the stock an "in-line" rating in a research note on Thursday, October 9th. Wells Fargo & Company increased their price target on shares of Principal Financial Group from $72.00 to $73.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 8th. UBS Group increased their price target on shares of Principal Financial Group from $85.00 to $87.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Finally, Barclays increased their price target on shares of Principal Financial Group from $80.00 to $83.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $88.60.

Principal Financial Group Price Performance

PFG opened at $80.90 on Thursday. The company has a fifty day simple moving average of $80.63 and a 200 day simple moving average of $78.61. The firm has a market cap of $18.02 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 0.76 and a beta of 1.03. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $91.97. 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 released its quarterly earnings results on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.97 by $0.19. 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 $1.63 earnings per share. Equities research analysts expect 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 was paid on Friday, September 26th. Investors of record on Thursday, September 4th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Thursday, September 4th. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.76. Principal Financial Group's dividend payout ratio (DPR) is 62.78%.

Principal Financial Group 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.

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