MBB Public Markets I LLC Acquires New Shares in Principal Financial Group, Inc. $PFG

Key Points

• MBB Public Markets I LLC has acquired a stake in Principal Financial Group, purchasing 3,870 shares valued at approximately $327,000 in the first quarter.
• Principal Financial Group recently declared a $0.78 quarterly dividend, an increase from the previous $0.76, with a yield of 3.9% and a payout ratio of 62.78%.
• Analyst ratings for Principal Financial Group include two "Buy," five "Hold," and three "Sell," with a current consensus price target of $86.90.

MBB Public Markets I LLC bought a new stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,870 shares of the company's stock, valued at approximately $327,000.

A number of other large investors have also added to or reduced their stakes in the stock. von Borstel & Associates Inc. purchased a new position in shares of Principal Financial Group in the first quarter worth about $32,000. Zions Bancorporation National Association UT bought a new stake in shares of Principal Financial Group in the 1st quarter worth approximately $34,000. Ameriflex Group Inc. bought a new stake in shares of Principal Financial Group in the 4th quarter worth approximately $37,000. GKV Capital Management Co. Inc. purchased a new position in shares of Principal Financial Group in the first quarter worth $45,000. Finally, MorganRosel Wealth Management LLC purchased a new position in shares of Principal Financial Group in the first quarter worth $46,000. Hedge funds and other institutional investors own 75.08% of the company's stock.

Principal Financial Group Trading Up 0.8%

Shares of PFG traded up $0.62 during trading hours on Friday, reaching $82.70. 985,971 shares of the company traded hands, compared to its average volume of 1,383,583. The firm has a market cap of $18.42 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 0.76 and a beta of 1.03. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $91.97. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The stock's fifty day moving average price is $79.41 and its 200 day moving average price is $79.04.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $2.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company earned $1.63 earnings per share. Sell-side analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.78 per share. This is an increase from Principal Financial Group's previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Thursday, September 4th. Principal Financial Group's payout ratio is presently 62.78%.

Analyst Ratings Changes

PFG has been the topic of a number of research analyst reports. UBS Group boosted their price objective on shares of Principal Financial Group from $85.00 to $87.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Wells Fargo & Company lowered 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 note on Wednesday, July 30th. Keefe, Bruyette & Woods decreased their target price on shares of Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating on the stock in a research note on Monday, August 4th. Morgan Stanley increased their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an "underweight" rating in a report on Monday, August 18th. Finally, JPMorgan Chase & Co. raised their target price 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. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $86.90.

Principal Financial Group Profile

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.