Diversified Trust Co Acquires New Shares in Principal Financial Group, Inc. (NYSE:PFG)

Diversified Trust Co bought a new position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 14,803 shares of the company's stock, valued at approximately $1,249,000.

Several other large investors have also added to or reduced their stakes in the stock. Tompkins Financial Corp purchased a new stake in shares of Principal Financial Group in the first quarter worth about $55,000. SG Americas Securities LLC bought a new stake in Principal Financial Group during the 1st quarter worth approximately $943,000. Quantbot Technologies LP increased its holdings in Principal Financial Group by 2,064.3% during the 4th quarter. Quantbot Technologies LP now owns 148,299 shares of the company's stock worth $11,480,000 after acquiring an additional 141,447 shares during the period. Vest Financial LLC purchased a new stake in Principal Financial Group in the 1st quarter worth approximately $787,000. Finally, Sound Income Strategies LLC lifted its stake in Principal Financial Group by 3.5% in the 1st quarter. Sound Income Strategies LLC now owns 236,617 shares of the company's stock worth $19,963,000 after purchasing an additional 7,940 shares in the last quarter. Institutional investors own 75.08% of the company's stock.

Principal Financial Group Trading Up 1.0%

Shares of PFG opened at $79.19 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.98. The firm has a 50 day moving average price of $77.12 and a 200-day moving average price of $79.52. The firm has a market cap of $17.75 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 0.76 and a beta of 1.00.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same quarter in the prior year, the company earned $1.65 earnings per share. As a group, equities research analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Monday, June 2nd were issued a dividend of $0.76 per share. The ex-dividend date was Monday, June 2nd. This is a boost from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a yield of 3.84%. Principal Financial Group's dividend payout ratio is currently 65.10%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PFG. Barclays decreased their price target on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. Morgan Stanley upped their target price on Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a research note on Monday, May 19th. Piper Sandler raised their price target on Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Wells Fargo & Company lifted their price target on Principal Financial Group from $68.00 to $69.00 and gave the company an "underweight" rating in a research report on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods boosted their price objective on Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $83.85.

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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