Massachusetts Financial Services Co. MA Boosts Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Massachusetts Financial Services Co. MA raised its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 29.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 591,970 shares of the company's stock after purchasing an additional 134,828 shares during the period. Massachusetts Financial Services Co. MA owned 0.26% of Principal Financial Group worth $49,945,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. von Borstel & Associates Inc. bought a new stake in shares of Principal Financial Group in the 1st quarter valued at about $32,000. Ameriflex Group Inc. bought a new stake in shares of Principal Financial Group in the 4th quarter valued at about $37,000. Navigoe LLC bought a new stake in shares of Principal Financial Group in the 4th quarter valued at about $37,000. Covestor Ltd boosted its holdings in shares of Principal Financial Group by 144.3% in the 4th quarter. Covestor Ltd now owns 540 shares of the company's stock valued at $42,000 after buying an additional 319 shares in the last quarter. Finally, MorganRosel Wealth Management LLC bought a new stake in shares of Principal Financial Group in the 1st quarter valued at about $46,000. Hedge funds and other institutional investors own 75.08% of the company's stock.

Principal Financial Group Stock Performance

NYSE PFG traded up $0.09 on Friday, hitting $81.06. 867,487 shares of the company's stock traded hands, compared to its average volume of 1,316,593. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $91.98. The firm's 50-day moving average price is $78.71 and its two-hundred day moving average price is $79.80. The firm has a market capitalization of $18.17 billion, a PE ratio of 12.13, a P/E/G ratio of 0.76 and a beta of 0.99.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.02). 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 firm earned $1.65 EPS. As a group, analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.75%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date was Monday, June 2nd. Principal Financial Group's payout ratio is presently 65.10%.

Wall Street Analyst Weigh In

PFG has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Principal Financial Group from $87.00 to $90.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. JPMorgan Chase & Co. raised their price target on shares of Principal Financial Group from $92.00 to $101.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Barclays raised their price target on shares of Principal Financial Group from $76.00 to $80.00 and gave the company an "underweight" rating in a report on Monday, July 7th. Morgan Stanley reiterated an "underweight" rating and issued a $75.00 target price (up from $71.00) on shares of Principal Financial Group in a research note on Monday. Finally, UBS Group lowered their target price on shares of Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Principal Financial Group presently has a consensus rating of "Hold" and an average price target of $84.08.

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.