Fort Washington Investment Advisors Inc. OH Raises Stock Position in Principal Financial Group, Inc. $PFG

Key Points

• Fort Washington Investment Advisors increased its stake in Principal Financial Group by 1.4%, owning 314,354 shares valued at approximately $24.97 million.
• Principal Financial Group reported $2.16 EPS for the last quarter, exceeding estimates and demonstrating a return on equity of 14.68%.
• The company declared a quarterly dividend of $0.78 per share, marking an increase from the previous dividend of $0.76, resulting in an annualized yield of 3.8%.

Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 1.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 314,354 shares of the company's stock after purchasing an additional 4,251 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 0.14% of Principal Financial Group worth $24,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Principal Financial Group in the second quarter worth about $25,000. American National Bank & Trust acquired a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $28,000. von Borstel & Associates Inc. purchased a new position in shares of Principal Financial Group during the 1st quarter valued at approximately $32,000. Zions Bancorporation National Association UT acquired a new position in shares of Principal Financial Group in the 1st quarter valued at $34,000. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of Principal Financial Group in the 1st quarter valued at $45,000. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Trading Up 1.4%

Shares of Principal Financial Group stock opened at $82.62 on Monday. The stock has a market cap of $18.41 billion, a P/E ratio of 12.37, a P/E/G ratio of 0.76 and a beta of 1.03. The stock's 50 day simple moving average is $79.64 and its 200-day simple moving average is $78.70. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $91.97. 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 posted its quarterly earnings results on Monday, July 28th. The company reported $2.16 EPS 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 previous year, the firm earned $1.63 earnings per share. Analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Thursday, September 4th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, September 4th. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.76. Principal Financial Group's dividend payout ratio is presently 62.78%.

Analyst Upgrades and Downgrades

Several analysts recently commented on PFG shares. Barclays raised their price target on shares of Principal Financial Group from $76.00 to $80.00 and gave the company an "underweight" rating in a research report on Monday, July 7th. UBS Group raised their target price on Principal Financial Group from $85.00 to $87.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Piper Sandler upped their price target on Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Wells Fargo & Company cut their price objective on Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating for the company in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. upped their target price on Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $86.90.

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.

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