MBB Public Markets I LLC Invests $327,000 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 position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,870 shares of the company's stock, valued at approximately $327,000.

Other hedge funds have also recently modified their holdings of the company. von Borstel & Associates Inc. bought a new stake in shares of Principal Financial Group during the 1st quarter valued at $32,000. Zions Bancorporation National Association UT bought a new stake in shares of Principal Financial Group during the 1st quarter valued at $34,000. Ameriflex Group Inc. bought a new stake in shares of Principal Financial Group during the 4th quarter valued at $37,000. GKV Capital Management Co. Inc. bought a new stake in shares of Principal Financial Group during the 1st quarter valued at $45,000. Finally, MorganRosel Wealth Management LLC bought a new stake in shares of Principal Financial Group during the 1st quarter valued at $46,000. Institutional investors own 75.08% of the company's stock.

Principal Financial Group Price Performance

PFG stock traded up $0.62 during mid-day trading on Friday, hitting $82.70. The company had a trading volume of 985,971 shares, compared to its average volume of 1,383,583. The company has a market capitalization of $18.42 billion, a price-to-earnings ratio of 12.38, a P/E/G 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 quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $79.41 and a 200 day moving average price of $78.93.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The company reported $2.16 EPS for the quarter, topping 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 period in the previous year, the company posted $1.63 EPS. On average, research analysts anticipate that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PFG. 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. Wells Fargo & Company cut their price objective on shares of Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating for the company in a research report on Wednesday, July 30th. UBS Group lifted their target price 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. Piper Sandler lifted their target price on shares of Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Principal Financial Group from $92.00 to $101.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Principal Financial Group has an average rating of "Reduce" and an average price target of $86.90.

Principal Financial Group Company 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.