Focus Partners Wealth Raises Stock Position in Principal Financial Group, Inc. $PFG

Key Points

• Focus Partners Wealth increased its stake in Principal Financial Group by 559.8% during Q1, acquiring a total of 73,302 shares worth approximately $6.19 million.
• Principal Financial Group recently announced a quarterly dividend increase to $0.78 per share, reflecting a 3.8% yield and a payout ratio of 62.78%.
• The stock has a current market capitalization of $18.42 billion with a P/E ratio of 12.38 and recent earnings per share reported at $2.16, exceeding analyst expectations.

Focus Partners Wealth grew its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 559.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,302 shares of the company's stock after purchasing an additional 62,193 shares during the period. Focus Partners Wealth's holdings in Principal Financial Group were worth $6,185,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. von Borstel & Associates Inc. purchased a new stake in Principal Financial Group during the first quarter worth about $32,000. Zions Bancorporation National Association UT purchased a new stake in Principal Financial Group during the first quarter worth about $34,000. Ameriflex Group Inc. purchased a new stake in Principal Financial Group during the fourth quarter worth about $37,000. GKV Capital Management Co. Inc. purchased a new stake in Principal Financial Group during the first quarter worth about $45,000. Finally, MorganRosel Wealth Management LLC purchased a new stake in Principal Financial Group during the first quarter worth about $46,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Price Performance

PFG stock opened at $82.70 on Monday. The company has a market capitalization of $18.42 billion, a P/E ratio of 12.38, a PEG ratio of 0.76 and a beta of 1.03. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $91.97. The business has a 50 day simple moving average of $79.41 and a 200-day simple moving average of $78.93. 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 posted its quarterly earnings data on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.19. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same period in the prior year, the company earned $1.63 earnings per share. As a group, equities analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be issued a dividend of $0.78 per share. This is a boost from Principal Financial Group's previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Thursday, September 4th. Principal Financial Group's dividend payout ratio is 62.78%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PFG. Wells Fargo & Company cut their target price 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. Morgan Stanley upped their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an "underweight" rating in a research note on Monday, August 18th. Keefe, Bruyette & Woods cut their target price 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. Barclays upped their target price 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. Finally, UBS Group upped their target price 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. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $86.90.

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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