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

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

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. von Borstel & Associates Inc. bought a new stake in Principal Financial Group in the first quarter valued at about $32,000. Navigoe LLC bought a new stake in Principal Financial Group in the fourth quarter valued at about $37,000. Ameriflex Group Inc. bought a new stake in Principal Financial Group in the fourth quarter valued at about $37,000. Covestor Ltd increased its stake in Principal Financial Group by 144.3% in the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock valued at $42,000 after acquiring an additional 319 shares during the period. Finally, MorganRosel Wealth Management LLC bought a new stake in Principal Financial Group during the first quarter worth about $46,000. Institutional investors own 75.08% of the company's stock.

Wall Street Analysts Forecast Growth

PFG has been the topic of several research analyst reports. UBS Group upped their price objective 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. Wells Fargo & Company decreased their price objective on shares of Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating on the stock in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods decreased their price objective on shares of Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating on the stock in a research note on Monday, August 4th. Piper Sandler upped their price objective on shares of Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Finally, Barclays upped their price objective on shares of Principal Financial Group from $76.00 to $80.00 and gave the stock an "underweight" rating in a research note on Monday, July 7th. Three equities 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 MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $86.70.

Principal Financial Group Price Performance

Shares of PFG stock opened at $76.59 on Monday. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $91.97. The firm's 50 day moving average is $78.39 and its 200-day moving average is $79.71. The firm has a market capitalization of $17.06 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 0.76 and a beta of 1.00. 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 earnings results on Monday, July 28th. The company reported $2.16 earnings per share (EPS) for the quarter, topping 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 earned $1.63 EPS. Sell-side analysts forecast that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be issued a $0.78 dividend. This is an increase from Principal Financial Group's previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a yield of 4.1%. The ex-dividend date is Thursday, September 4th. Principal Financial Group's dividend payout ratio (DPR) is currently 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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