Hsbc Holdings PLC boosted its stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) by 47.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,153,117 shares of the company's stock after acquiring an additional 372,374 shares during the quarter. Hsbc Holdings PLC owned 0.54% of Principal Financial Group worth $124,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of PFG. DV Equities LLC purchased a new position in shares of Principal Financial Group in the fourth quarter valued at about $25,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Principal Financial Group during the fourth quarter worth about $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Principal Financial Group in the first quarter worth about $27,000. Ancora Advisors LLC bought a new position in Principal Financial Group during the 2nd quarter valued at approximately $27,000. Finally, MBM Wealth Consultants LLC purchased a new stake in Principal Financial Group in the 1st quarter worth approximately $28,000. 75.08% of the stock is owned by hedge funds and other institutional investors.
Principal Financial Group Stock Down 0.3%
Shares of Principal Financial Group stock opened at $111.59 on Wednesday. The company has a 50-day simple moving average of $111.71 and a two-hundred day simple moving average of $101.74. The stock has a market capitalization of $23.89 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 1.01 and a beta of 0.88. Principal Financial Group, Inc. has a 52-week low of $77.90 and a 52-week high of $116.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.28 and a current ratio of 0.28.
Principal Financial Group (NASDAQ:PFG - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.17. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.11 billion. Principal Financial Group had a net margin of 9.93% and a return on equity of 16.49%. During the same quarter last year, the firm earned $2.16 earnings per share. On average, analysts anticipate that Principal Financial Group, Inc. will post 9.62 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 25th. Stockholders of record on Thursday, September 3rd will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Thursday, September 3rd. This is a boost from Principal Financial Group's previous quarterly dividend of $0.82. Principal Financial Group's payout ratio is 46.59%.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on PFG shares. Raymond James Financial reissued an "outperform" rating and set a $121.00 price objective on shares of Principal Financial Group in a research report on Monday, August 17th. Bank of America raised their price objective on shares of Principal Financial Group from $94.00 to $104.00 and gave the stock an "underperform" rating in a report on Tuesday, July 28th. Jefferies Financial Group increased their target price on Principal Financial Group from $91.00 to $98.00 and gave the stock a "hold" rating in a research report on Friday, July 10th. Morgan Stanley raised their price objective on Principal Financial Group from $107.00 to $112.00 and gave the company an "equal weight" rating in a research report on Monday, July 6th. Finally, Piper Sandler lifted their price target on shares of Principal Financial Group from $113.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, June 24th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $106.67.
Read Our Latest Report on Principal Financial Group
Principal Financial Group Profile
(
Free Report)
Principal Financial Group NASDAQ: PFG is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm's business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.
Principal's product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.
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