GW Henssler & Associates Ltd. Raises Holdings in Principal Financial Group, Inc. $PFG

Key Points

• GW Henssler & Associates Ltd. increased its holdings in Principal Financial Group by 2.0%, owning 213,618 shares valued at approximately $16.97 million at the end of the second quarter.
• Principal Financial Group recently announced a quarterly dividend of $0.78, raising it from $0.76, resulting in a 3.9% yield with a payout ratio of 62.78%.
• The company reported earnings of $2.16 per share, surpassing analysts’ expectations of $1.97, and has a consensus target price of $88.60 from research analysts.

GW Henssler & Associates Ltd. grew its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 213,618 shares of the company's stock after buying an additional 4,124 shares during the period. GW Henssler & Associates Ltd. owned 0.10% of Principal Financial Group worth $16,968,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Principal Financial Group during the 2nd quarter valued at $25,000. American National Bank & Trust purchased a new position in shares of Principal Financial Group during the 2nd quarter valued at $28,000. von Borstel & Associates Inc. purchased a new position in shares of Principal Financial Group during the 1st quarter valued at $32,000. Zions Bancorporation National Association UT purchased a new position in shares of Principal Financial Group during the 1st quarter valued at $34,000. Finally, GKV Capital Management Co. Inc. purchased a new position in shares of Principal Financial Group during the 1st quarter valued at $45,000. Hedge funds and other institutional investors own 75.08% of the company's stock.

Principal Financial Group Price Performance

Shares of NYSE PFG opened at $79.42 on Friday. The firm has a market capitalization of $17.69 billion, a P/E ratio of 11.89, a P/E/G ratio of 0.76 and a beta of 1.03. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The stock's 50-day simple moving average is $80.37 and its two-hundred day simple moving average is $78.64. 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 announced its earnings results on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, topping 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 posted $1.63 EPS. As a group, equities analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Thursday, September 4th were paid a $0.78 dividend. The ex-dividend date was Thursday, September 4th. This represents a $3.12 dividend on an annualized basis and a yield of 3.9%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.76. Principal Financial Group's dividend payout ratio is currently 62.78%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PFG. 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. Wells Fargo & Company increased their price objective on Principal Financial Group from $72.00 to $73.00 and gave the stock an "underweight" rating in a report on Wednesday. Piper Sandler set a $94.00 price objective on Principal Financial Group and gave the stock an "overweight" rating in a report on Tuesday. Keefe, Bruyette & Woods increased their price objective on Principal Financial Group from $88.00 to $90.00 and gave the stock a "market perform" rating in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $88.60.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.