Mediolanum International Funds Ltd Acquires 35,492 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Key Points

• Mediolanum International Funds Ltd increased its holdings in Principal Financial Group by 190.5% in Q1, owning 54,120 shares worth approximately $4.50 million.
• Several hedge funds have made significant adjustments to their positions in Principal Financial Group, with 75.08% of the stock currently owned by institutional investors.
• Principal Financial Group recently reported EPS of $1.81 for the last quarter, missing the consensus estimate of $1.83, and has an average price target of $86.30 from analysts.

Mediolanum International Funds Ltd lifted its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 190.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,120 shares of the company's stock after acquiring an additional 35,492 shares during the quarter. Mediolanum International Funds Ltd's holdings in Principal Financial Group were worth $4,495,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Principal Financial Group by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company's stock worth $422,074,000 after buying an additional 52,410 shares during the period. Victory Capital Management Inc. raised its stake in Principal Financial Group by 802.2% during the 1st quarter. Victory Capital Management Inc. now owns 3,707,534 shares of the company's stock worth $312,805,000 after buying an additional 3,296,608 shares during the period. Northern Trust Corp increased its holdings in Principal Financial Group by 9.8% during the 4th quarter. Northern Trust Corp now owns 3,662,918 shares of the company's stock worth $283,546,000 after purchasing an additional 326,604 shares in the last quarter. Norges Bank bought a new stake in Principal Financial Group during the 4th quarter worth approximately $217,021,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Principal Financial Group by 12.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,246 shares of the company's stock worth $145,318,000 after purchasing an additional 209,885 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Stock Performance

Shares of PFG stock traded up $1.40 during mid-day trading on Thursday, reaching $77.99. 395,545 shares of the company's stock traded hands, compared to its average volume of 1,409,302. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.97. The firm has a 50 day moving average price of $78.59 and a two-hundred day moving average price of $79.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The firm has a market capitalization of $17.48 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 0.76 and a beta of 0.99.

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 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 prior year, the company posted $1.63 earnings per share. On average, research analysts forecast that Principal Financial Group, Inc. will post 8.5 EPS 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 given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 4.00%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.76. Principal Financial Group's dividend payout ratio is currently 65.10%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PFG shares. Wells Fargo & Company reduced their target price on Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating for the company in a report on Wednesday. Morgan Stanley restated an "underweight" rating and set a $75.00 target price (up previously from $71.00) on shares of Principal Financial Group in a research report on Monday, July 14th. UBS Group increased their target price on Principal Financial Group from $85.00 to $87.00 and gave the stock a "neutral" rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, Barclays increased their price objective on Principal Financial Group from $76.00 to $80.00 and gave the stock an "underweight" rating in a research report on Monday, July 7th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price 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.