Jupiter Topco LLC bought a new position in Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 23,952 shares of the company's stock, valued at approximately $2,581,000.
A number of other institutional investors have also modified their holdings of the stock. Focus Financial Network Inc. grew its stake in 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 purchasing an additional 110 shares in the last quarter. Prosperity Consulting Group LLC raised its stake 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 buying an additional 111 shares in the last quarter. Blue Trust Inc. raised its stake 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 buying an additional 119 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Principal Financial Group by 7.6% during the 4th quarter. Parallel Advisors LLC now owns 1,686 shares of the company's stock worth $149,000 after buying an additional 119 shares during the last quarter. Finally, Beacon Financial Group lifted its holdings in Principal Financial Group by 2.8% during the 1st quarter. Beacon Financial Group now owns 4,451 shares of the company's stock worth $401,000 after buying an additional 120 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.
Principal Financial Group Stock Up 1.8%
NASDAQ:PFG opened at $111.31 on Thursday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average of $111.85 and a 200-day moving average of $102.45. The firm has a market capitalization of $23.83 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 0.99 and a beta of 0.86. Principal Financial Group, Inc. has a 52 week low of $77.90 and a 52 week high of $116.61.
Principal Financial Group (NASDAQ:PFG - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.33 by $0.17. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.11 billion. Principal Financial Group had a return on equity of 16.49% and a net margin of 9.93%.During the same quarter in the previous year, the firm posted $2.16 EPS. Analysts predict that Principal Financial Group, Inc. will post 9.62 EPS for the current year.
Principal Financial Group Increases Dividend
The company 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 annualized dividend and a dividend yield of 3.0%. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Thursday, September 3rd. Principal Financial Group's dividend payout ratio is presently 47.73%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on PFG shares. Barclays boosted their price target on Principal Financial Group from $87.00 to $92.00 and gave the company an "underweight" rating in a report on Tuesday, July 7th. Raymond James Financial restated an "outperform" rating and set a $121.00 price objective on shares of Principal Financial Group in a research note on Monday, August 17th. Wells Fargo & Company decreased their price objective on shares of Principal Financial Group from $114.00 to $113.00 and set an "equal weight" rating for the company in a report on Wednesday, July 22nd. Morgan Stanley boosted their target price on shares of Principal Financial Group from $107.00 to $112.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Principal Financial Group from $106.00 to $107.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. 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. Based on data from MarketBeat, Principal Financial Group has a consensus rating of "Hold" and a consensus target price of $106.67.
Check Out Our Latest Stock Report on PFG
Principal Financial Group Company 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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