Chicago Partners Investment Group LLC Buys New Shares in Principal Financial Group, Inc. (NYSE:PFG)

Chicago Partners Investment Group LLC bought a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,413 shares of the company's stock, valued at approximately $420,000.

A number of other large investors also recently added to or reduced their stakes in PFG. Stratos Wealth Partners LTD. raised its position in shares of Principal Financial Group by 3.9% in the 1st quarter. Stratos Wealth Partners LTD. now owns 3,826 shares of the company's stock valued at $323,000 after acquiring an additional 144 shares during the period. Raiffeisen Bank International AG raised its position in shares of Principal Financial Group by 12.6% in the 1st quarter. Raiffeisen Bank International AG now owns 1,380 shares of the company's stock valued at $115,000 after acquiring an additional 154 shares during the period. WFA Asset Management Corp raised its position in shares of 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 acquiring an additional 167 shares during the period. Mather Group LLC. raised its position in shares of 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 acquiring an additional 178 shares during the period. Finally, SageView Advisory Group LLC raised its position in shares of Principal Financial Group by 8.5% in the 4th quarter. SageView Advisory Group LLC now owns 2,916 shares of the company's stock valued at $226,000 after acquiring an additional 229 shares during the period. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PFG. UBS Group increased their price target on shares of Principal Financial Group from $85.00 to $87.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods cut their price target on shares of Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating on the stock in a research report on Monday, August 4th. 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. Wells Fargo & Company lowered their target price on Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating for the company in a research note on Wednesday, July 30th. Finally, Morgan Stanley reissued an "underweight" rating and set a $75.00 target price (up from $71.00) on shares of Principal Financial Group in a research note on Monday, July 14th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Principal Financial Group presently has an average rating of "Hold" and a consensus target price of $86.70.

Principal Financial Group Stock Down 0.4%

Shares of PFG traded down $0.32 during mid-day trading on Friday, hitting $77.78. 172,659 shares of the company's stock were exchanged, compared to its average volume of 1,412,656. The company has a market cap of $17.33 billion, a PE ratio of 11.64, a P/E/G ratio of 0.76 and a beta of 1.00. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.97. The company has a 50-day simple moving average of $78.46 and a 200 day simple moving average of $79.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, topping the consensus estimate 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 in the previous year, the company posted $1.63 earnings per share. On average, research analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.12 annualized dividend and a dividend yield of 4.0%. This is an increase 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 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.