MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $5.24 Million Stock Position in Principal Financial Group, Inc. $PFG

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Principal Financial Group by 8.1%, owning a total of 62,048 shares valued at over $5 million.
• Principal Financial Group recently announced a quarterly dividend of $0.78 per share, up from $0.76, marking a 3.8% dividend yield.
• The company's stock has seen significant institutional investment, with notable increases from firms like Victory Capital Management, which boosted its holdings by 802.2%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 8.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,048 shares of the company's stock after purchasing an additional 4,625 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Principal Financial Group were worth $5,235,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. bought a new position in Principal Financial Group during the 1st quarter worth about $32,000. Zions Bancorporation National Association UT acquired a new stake in shares of Principal Financial Group in the first quarter valued at approximately $34,000. Ameriflex Group Inc. acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at approximately $37,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Principal Financial Group in the first quarter valued at approximately $45,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of Principal Financial Group in the first quarter valued at approximately $46,000. Institutional investors own 75.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PFG shares. JPMorgan Chase & Co. lifted their price objective 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. Piper Sandler lifted their price objective on shares of Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Morgan Stanley lifted 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. UBS Group lifted their price objective on shares of Principal Financial Group from $85.00 to $87.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods lowered 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 report on Monday, August 4th. 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. Based on data from MarketBeat, Principal Financial Group has a consensus rating of "Reduce" and a consensus target price of $86.90.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock traded down $2.28 during trading on Tuesday, reaching $80.67. The company's stock had a trading volume of 584,765 shares, compared to its average volume of 1,379,545. The business's 50-day moving average price is $79.47 and its 200-day moving average price is $78.89. The firm has a market cap of $17.97 billion, a PE ratio of 12.06, a P/E/G ratio of 0.76 and a beta of 1.03. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week 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 announced its 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 quarter in the previous year, the firm earned $1.63 EPS. Equities 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 disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be given a dividend of $0.78 per share. 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 yield of 3.9%. The ex-dividend date of this dividend is Thursday, September 4th. Principal Financial Group's dividend payout ratio (DPR) is currently 62.78%.

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.