Deutsche Bank AG Acquires Shares of 1,231,533 Principal Financial Group, Inc. $PFG

Key Points

• Deutsche Bank acquired 1,231,533 shares of Principal Financial Group in the second quarter, valued at approximately $132.7 million and representing a 0.58% stake. Institutional investors collectively own 75.08% of PFG.
• Principal Financial Group beat quarterly earnings expectations, reporting $2.50 in adjusted earnings per share versus the $2.33 consensus estimate, although revenue of $3.99 billion fell short of the $4.11 billion forecast.
• The company raised its quarterly dividend to $0.84 per share, or $3.36 annually, producing a 3.0% yield. Analysts maintain a consensus “Hold” rating with an average price target of $106.67, below the stock’s reported $111.64 price.

Deutsche Bank AG purchased a new stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,231,533 shares of the company's stock, valued at approximately $132,735,000. Deutsche Bank AG owned 0.58% of Principal Financial Group as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PFG. DV Equities LLC bought a new position in Principal Financial Group during the fourth quarter worth about $25,000. Hilton Head Capital Partners LLC acquired a new position in shares of Principal Financial Group during the 4th quarter worth about $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Principal Financial Group during the 1st quarter worth about $27,000. MBM Wealth Consultants LLC bought a new stake in shares of Principal Financial Group in the 1st quarter valued at about $28,000. Finally, Quest 10 Wealth Builders Inc. increased its stake in shares of Principal Financial Group by 343.6% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company's stock valued at $30,000 after acquiring an additional 268 shares during the last quarter. Institutional investors own 75.08% of the company's stock.

Principal Financial Group Trading Down 1.3%

NASDAQ PFG opened at $111.64 on Thursday. Principal Financial Group, Inc. has a 52 week low of $77.34 and a 52 week high of $116.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.28 and a current ratio of 0.28. The stock's 50 day moving average price is $111.66 and its two-hundred day moving average price is $101.30. The stock has a market capitalization of $23.90 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.03 and a beta of 0.88.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The company reported $2.50 earnings per share for the quarter, beating analysts' consensus estimates of $2.33 by $0.17. Principal Financial Group had a return on equity of 16.49% and a net margin of 9.93%.The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same period last year, the company earned $2.16 earnings per share. As a group, analysts anticipate that Principal Financial Group, Inc. will post 9.57 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 3rd will be issued a $0.84 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $3.36 annualized dividend and a yield of 3.0%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.82. Principal Financial Group's payout ratio is currently 46.59%.

Analyst Upgrades and Downgrades

PFG has been the topic of several recent analyst reports. Atlantic Securities set a $94.00 price objective on shares of Principal Financial Group in a research note on Wednesday, July 15th. Raymond James Financial reaffirmed an "outperform" rating and issued a $121.00 target price on shares of Principal Financial Group in a research note on Monday. Evercore set a $108.00 target price on shares of Principal Financial Group in a report on Monday, April 27th. Citigroup lowered shares of Principal Financial Group from a "sell" rating to an "underperform" rating in a report on Wednesday, June 24th. Finally, Morgan Stanley lifted their price target on shares of Principal Financial Group from $107.00 to $112.00 and gave the stock an "equal weight" rating in a research report on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Principal Financial Group currently has a consensus rating of "Hold" and an average target price of $106.67.

Principal Financial Group Profile

Principal Financial Group NASDAQ: PFG is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm's business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal's product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.

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