Foster & Motley Inc. Boosts Position in Principal Financial Group, Inc. $PFG

Key Points

• Foster & Motley Inc. increased its holdings in Principal Financial Group by 18.3%, owning 34,941 shares valued at approximately $2.775 million by the end of the second quarter.
• Principal Financial Group recently announced a quarterly dividend increase to $0.78, reflecting an annualized dividend of $3.12 and a dividend yield of 4.0%.
• Analysts have mixed ratings on PFG, with a consensus rating of "Reduce" and an average price target of $88.60.

Foster & Motley Inc. increased its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 18.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,941 shares of the company's stock after purchasing an additional 5,404 shares during the quarter. Foster & Motley Inc.'s holdings in Principal Financial Group were worth $2,775,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PFG. Oliver Lagore Vanvalin Investment Group purchased a new stake in Principal Financial Group during the second quarter worth approximately $25,000. American National Bank & Trust purchased a new stake in Principal Financial Group during the second quarter worth approximately $28,000. von Borstel & Associates Inc. purchased a new stake in Principal Financial Group during the first quarter worth approximately $32,000. Private Wealth Asset Management LLC lifted its stake in Principal Financial Group by 163.4% during the second quarter. Private Wealth Asset Management LLC now owns 403 shares of the company's stock worth $32,000 after purchasing an additional 250 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in Principal Financial Group during the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 75.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PFG. Wells Fargo & Company boosted their target price on Principal Financial Group from $72.00 to $73.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 8th. Piper Sandler set a $94.00 price objective on Principal Financial Group and gave the company an "overweight" rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods boosted their price objective on Principal Financial Group from $88.00 to $90.00 and gave the company a "market perform" rating in a research note on Thursday, October 9th. Morgan Stanley boosted their price objective on Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a research note on Tuesday, October 7th. Finally, UBS Group boosted their price objective on Principal Financial Group from $85.00 to $87.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Two 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. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $88.60.

Principal Financial Group Trading Up 0.3%

NYSE:PFG opened at $78.63 on Friday. The firm has a market cap of $17.52 billion, a P/E ratio of 11.77, a PEG ratio of 0.76 and a beta of 1.03. 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 stock's 50 day simple moving average is $80.73 and its 200-day simple moving average is $78.47. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $91.40.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $2.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 last year, the company earned $1.63 EPS. 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 announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Thursday, September 4th were issued a $0.78 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This is an increase from Principal Financial Group's previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.0%. Principal Financial Group's dividend payout ratio is presently 62.78%.

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.

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