Cerity Partners LLC Has $2.94 Million Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Cerity Partners LLC boosted its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 19.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,782 shares of the company's stock after acquiring an additional 5,603 shares during the period. Cerity Partners LLC's holdings in Principal Financial Group were worth $2,935,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. von Borstel & Associates Inc. acquired a new stake in shares of Principal Financial Group in the 1st quarter valued at $32,000. Navigoe LLC bought a new position in Principal Financial Group during the 4th quarter valued at about $37,000. Ameriflex Group Inc. acquired a new position in Principal Financial Group in the fourth quarter valued at about $37,000. Covestor Ltd increased its holdings in shares of Principal Financial Group by 144.3% during the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock worth $42,000 after buying an additional 319 shares in the last quarter. Finally, MorganRosel Wealth Management LLC acquired a new stake in Principal Financial Group during the 1st quarter valued at $46,000. 75.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays lifted their price target on Principal Financial Group from $76.00 to $80.00 and gave the company an "underweight" rating in a report on Monday, July 7th. Wells Fargo & Company upped their target price on shares of Principal Financial Group from $69.00 to $73.00 and gave the stock an "underweight" rating in a research report on Thursday, July 10th. Piper Sandler raised their price target on shares of Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, Morgan Stanley reiterated an "underweight" rating and issued a $75.00 price objective (up from $71.00) on shares of Principal Financial Group in a research report on Monday. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $84.82.

Principal Financial Group Trading Up 0.1%

Shares of NYSE PFG opened at $81.06 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $91.98. The company's fifty day moving average is $78.76 and its 200-day moving average is $79.82. The stock has a market cap of $18.17 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 0.76 and a beta of 0.99.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its earnings results 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 period last year, the firm earned $1.65 earnings per share. Equities research analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.76 per share. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Monday, June 2nd. Principal Financial Group's dividend payout ratio (DPR) is 65.10%.

About Principal Financial Group

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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