Nykredit A S Makes New Investment in Principal Financial Group, Inc. $PFG

Key Points

• Nykredit A/S acquired 63,336 shares of Principal Financial Group during the second quarter, valued at approximately $6.8 million. Institutional investors and hedge funds collectively own 75.08% of PFG.
• Principal Financial Group reported quarterly EPS of $2.50, exceeding analysts’ $2.33 estimate, though revenue of $3.99 billion fell short of the $4.11 billion consensus forecast.
• The company raised its quarterly dividend from $0.82 to $0.84 per share, equivalent to an annualized $3.36 dividend and a 2.9% yield. Analysts maintain a consensus “Hold” rating with an average price target of $106.67.

Nykredit A S bought a new stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 63,336 shares of the company's stock, valued at approximately $6,826,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PFG. Ancora Advisors LLC acquired a new position in shares of Principal Financial Group during the 2nd quarter valued at about $27,000. DV Equities LLC acquired a new stake in Principal Financial Group in the 4th quarter worth approximately $25,000. Hilton Head Capital Partners LLC bought a new stake in Principal Financial Group during the fourth quarter worth approximately $26,000. Valley Wealth Managers Inc. bought a new stake in Principal Financial Group during the first quarter worth approximately $27,000. Finally, MBM Wealth Consultants LLC acquired a new position in Principal Financial Group during the first quarter valued at approximately $28,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Trading Down 1.5%

Shares of PFG stock opened at $116.68 on Friday. Principal Financial Group, Inc. has a 1 year low of $77.90 and a 1 year high of $121.18. The firm's fifty day simple moving average is $112.29 and its 200 day simple moving average is $102.74. The firm has a market capitalization of $24.98 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 1.06 and a beta of 0.86. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The company reported $2.50 earnings per share for the quarter, beating analysts' consensus estimates of $2.33 by $0.17. Principal Financial Group had a net margin of 9.93% and a return on equity of 16.49%. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same period in the prior year, the firm earned $2.16 EPS. As a group, sell-side analysts predict that Principal Financial Group, Inc. will post 9.62 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.84 per share. This is an increase from Principal Financial Group's previous quarterly dividend of $0.82. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, September 3rd. Principal Financial Group's dividend payout ratio (DPR) is currently 47.73%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PFG. Barclays lifted their price target on shares of Principal Financial Group from $87.00 to $92.00 and gave the company an "underweight" rating in a research report on Tuesday, July 7th. Jefferies Financial Group raised their target price on shares of Principal Financial Group from $91.00 to $98.00 and gave the company a "hold" rating in a research note on Friday, July 10th. Piper Sandler lifted their target price on shares of Principal Financial Group from $113.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, June 24th. Atlantic Securities set a $94.00 target price on shares of Principal Financial Group in a research report on Wednesday, July 15th. Finally, Bank of America upped their price target on shares of Principal Financial Group from $94.00 to $104.00 and gave the company an "underperform" rating in a report on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $106.67.

Principal Financial Group Profile

Principal Financial Group NASDAQ: PFG is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm's business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal's product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.

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