National Pension Service Raises Stock Holdings in Principal Financial Group, Inc. $PFG

Key Points

• The National Pension Service increased its stake in Principal Financial Group by 8.4%, owning 379,861 shares valued at approximately $32 million as of its most recent SEC filing.
• Principal Financial Group has recently increased its quarterly dividend to $0.78 per share, up from the previous dividend of $0.76, reflecting an annual yield of 4.0%.
• The company reported an earnings per share of $2.16 for the last quarter, surpassing analysts' expectations and showing a year-over-year increase from $1.63.

National Pension Service increased its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 8.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 379,861 shares of the company's stock after purchasing an additional 29,318 shares during the quarter. National Pension Service owned approximately 0.17% of Principal Financial Group worth $32,049,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. von Borstel & Associates Inc. bought a new position in Principal Financial Group during the first quarter valued at approximately $32,000. Zions Bancorporation National Association UT bought a new position in Principal Financial Group during the first quarter valued at approximately $34,000. Navigoe LLC bought a new position in Principal Financial Group during the fourth quarter valued at approximately $37,000. Ameriflex Group Inc. bought a new position in Principal Financial Group during the fourth quarter valued at approximately $37,000. Finally, GKV Capital Management Co. Inc. bought a new position in Principal Financial Group during the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 75.08% of the company's stock.

Principal Financial Group Stock Up 0.2%

NYSE PFG traded up $0.1650 on Thursday, reaching $78.8850. 153,013 shares of the stock traded hands, compared to its average volume of 1,402,406. 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 company has a fifty day moving average price of $78.57 and a 200-day moving average price of $79.48. The company has a market cap of $17.57 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.76 and a beta of 1.00. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.97.

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, beating analysts' consensus estimates of $1.97 by $0.19. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same quarter last year, the firm posted $1.63 earnings per share. As a group, research analysts forecast that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors 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. The ex-dividend date is Thursday, September 4th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.0%. Principal Financial Group's dividend payout ratio (DPR) is currently 62.78%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PFG. Wells Fargo & Company lowered their price objective on Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating for the company in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods lowered their price objective on Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating for the company in a research note on Monday, August 4th. Piper Sandler raised their price objective on Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. UBS Group raised their price objective on Principal Financial Group from $85.00 to $87.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Finally, JPMorgan Chase & Co. raised their price objective on 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 equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Principal Financial Group currently has a consensus rating of "Reduce" and an average target price 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.