Principal Financial Group, Inc. $PFG Shares Bought by Foster Group Inc.

Key Points

• Foster Group Inc. increased its holdings in Principal Financial Group by 51.5% during Q2, totaling 18,999 shares valued at $1.5 million.
• Principal Financial Group announced a quarterly dividend of $0.78 per share, up from a previous $0.76, reflecting a 3.8% yield.
• The company reported earnings of $2.16 per share for the last quarter, exceeding analysts’ estimates of $1.97, and it has a market cap of $18.20 billion.

Foster Group Inc. boosted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 51.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,999 shares of the company's stock after buying an additional 6,456 shares during the quarter. Foster Group Inc.'s holdings in Principal Financial Group were worth $1,509,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Principal Financial Group during the second quarter valued at about $25,000. von Borstel & Associates Inc. bought a new stake in shares of Principal Financial Group during the 1st quarter valued at $32,000. Zions Bancorporation National Association UT purchased a new stake in Principal Financial Group during the 1st quarter valued at $34,000. Ameriflex Group Inc. purchased a new stake in Principal Financial Group during the fourth quarter valued at approximately $37,000. Finally, GKV Capital Management Co. Inc. bought a new stake in Principal Financial Group during the 1st quarter valued at approximately $45,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Trading Up 0.6%

Shares of NYSE:PFG traded up $0.50 during mid-day trading on Monday, reaching $82.21. The stock had a trading volume of 1,036,419 shares, compared to its average volume of 1,389,711. The firm has a 50 day simple moving average of $79.49 and a two-hundred day simple moving average of $78.70. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The firm has a market cap of $18.31 billion, a PE ratio of 12.31, a price-to-earnings-growth 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.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the business posted $1.63 earnings per share. On average, research analysts predict that Principal Financial Group, Inc. will post 8.5 EPS 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 26th. Investors of record on Thursday, September 4th will be given a dividend of $0.78 per share. This is an increase 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 is Thursday, September 4th. Principal Financial Group's dividend payout ratio is presently 62.78%.

Wall Street Analysts Forecast Growth

PFG has been the subject of several research reports. Wells Fargo & Company lowered their price target on shares of 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. Morgan Stanley upped their price target on Principal Financial Group from $75.00 to $77.00 and gave the company an "underweight" rating in a research note on Monday, August 18th. Keefe, Bruyette & Woods cut their price target on 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. UBS Group lifted their price objective on Principal Financial Group from $85.00 to $87.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Finally, Piper Sandler upped their price objective on shares of Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $86.90.

About Principal Financial Group

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.