Principal Financial Group, Inc. $PFG Shares Acquired by Martin Capital Partners LLC

Key Points

• Martin Capital Partners LLC increased its stake in Principal Financial Group by 206.0% in Q2, now holding 10,278 shares worth approximately $816,000.
• The company reported earnings of $2.16 EPS, surpassing analysts' expectations, and recently announced a quarterly dividend increase to $0.78 per share, yielding 3.8%.
• Recent analyst reports indicate a mix of ratings for Principal Financial Group, with price targets ranging from $72.00 to $101.00 and an average target price of $86.90.

Martin Capital Partners LLC raised its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 206.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,278 shares of the company's stock after purchasing an additional 6,919 shares during the quarter. Martin Capital Partners LLC's holdings in Principal Financial Group were worth $816,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PFG. von Borstel & Associates Inc. purchased a new position in shares of Principal Financial Group in the first quarter worth $32,000. Zions Bancorporation National Association UT purchased a new position in shares of Principal Financial Group in the first quarter worth $34,000. Ameriflex Group Inc. purchased a new stake in Principal Financial Group during the fourth quarter valued at $37,000. GKV Capital Management Co. Inc. purchased a new stake in Principal Financial Group during the first quarter valued at $45,000. Finally, MorganRosel Wealth Management LLC purchased a new stake in Principal Financial Group during the first quarter valued at $46,000. Hedge funds and other institutional investors own 75.08% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Barclays upped their price target on shares of Principal Financial Group from $76.00 to $80.00 and gave the company an "underweight" rating in a research note on Monday, July 7th. UBS Group upped their price target on shares of Principal Financial Group from $85.00 to $87.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Morgan Stanley boosted their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an "underweight" rating in a research report on Monday, August 18th. Keefe, Bruyette & Woods cut their price objective on shares of Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating on the stock in a research report on Monday, August 4th. Finally, Wells Fargo & Company cut their price objective on shares of Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $86.90.

Principal Financial Group Stock Up 0.4%

NYSE:PFG traded up $0.31 during mid-day trading on Friday, reaching $82.09. The company's stock had a trading volume of 481,402 shares, compared to its average volume of 1,377,146. The firm has a market capitalization of $18.29 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03. The stock has a fifty day moving average of $79.44 and a 200-day moving average of $78.87. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $91.97. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.97 by $0.19. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter last year, the business earned $1.63 earnings per share. Equities research analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, September 4th. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a dividend yield of 3.8%. Principal Financial Group's payout ratio is currently 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.