Invst LLC Purchases Shares of 17,156 Principal Financial Group, Inc. $PFG

Key Points

• Invst LLC purchased 17,156 shares of Principal Financial Group worth approximately $1.85 million, while institutional investors collectively own 75.08% of PFG.
• Principal Financial Group reported quarterly EPS of $2.50, beating analyst estimates of $2.33, although revenue of $3.99 billion fell short of expectations.
• The company raised its quarterly dividend from $0.82 to $0.84 per share, implying an annualized dividend of $3.36 and a 3.0% yield. Analysts maintain a consensus “Hold” rating with an average price target of $106.67.

Invst LLC purchased a new position in shares of Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 17,156 shares of the company's stock, valued at approximately $1,849,000.

A number of other institutional investors have also modified their holdings of PFG. Focus Financial Network Inc. boosted its stake in shares of Principal Financial Group by 2.0% in the second quarter. Focus Financial Network Inc. now owns 5,613 shares of the company's stock worth $605,000 after buying an additional 110 shares during the last quarter. Prosperity Consulting Group LLC raised its position in Principal Financial Group by 1.6% during the first quarter. Prosperity Consulting Group LLC now owns 6,921 shares of the company's stock valued at $624,000 after acquiring an additional 111 shares in the last quarter. Blue Trust Inc. raised its position in Principal Financial Group by 14.8% during the first quarter. Blue Trust Inc. now owns 921 shares of the company's stock valued at $83,000 after acquiring an additional 119 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Principal Financial Group by 7.6% in the fourth quarter. Parallel Advisors LLC now owns 1,686 shares of the company's stock valued at $149,000 after acquiring an additional 119 shares during the period. Finally, Beacon Financial Group lifted its holdings in Principal Financial Group by 2.8% in the first quarter. Beacon Financial Group now owns 4,451 shares of the company's stock valued at $401,000 after acquiring an additional 120 shares during the period. Hedge funds and other institutional investors own 75.08% of the company's stock.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $111.59 on Wednesday. The stock has a market capitalization of $23.89 billion, a P/E ratio of 15.85, a P/E/G ratio of 1.01 and a beta of 0.88. The company's fifty day moving average price is $111.71 and its 200 day moving average price is $101.74. 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, Inc. has a 1 year low of $77.90 and a 1 year high of $116.61.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The company reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.33 by $0.17. The company had revenue of $3.99 billion during the quarter, compared to analysts' expectations 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 period in the prior year, the business posted $2.16 earnings per share. As a group, equities research analysts anticipate that Principal Financial Group, Inc. will post 9.62 earnings per share 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. Investors of record on Thursday, September 3rd will be given a dividend of $0.84 per share. This is a boost from Principal Financial Group's previous quarterly dividend of $0.82. The ex-dividend date is Thursday, September 3rd. This represents a $3.36 annualized dividend and a dividend yield of 3.0%. Principal Financial Group's payout ratio is currently 46.59%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Weiss Ratings raised shares of Principal Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 12th. Jefferies Financial Group boosted their target price on shares of Principal Financial Group from $91.00 to $98.00 and gave the company a "hold" rating in a research note on Friday, July 10th. Bank of America increased their price target 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. Atlantic Securities set a $94.00 price objective on shares of Principal Financial Group in a report on Wednesday, July 15th. Finally, Raymond James Financial restated an "outperform" rating and set a $121.00 target price on shares of Principal Financial Group in a research report on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $106.67.

Principal Financial Group Company Profile

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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