OneDigital Investment Advisors LLC Purchases Shares of 13,407 Principal Financial Group, Inc. $PFG

Key Points

• Institutional interest increased: OneDigital Investment Advisors acquired 13,407 shares of Principal Financial Group worth approximately $1.45 million, while several other funds also initiated positions. Institutions collectively own 75.08% of PFG’s shares.
• Analyst sentiment remains mixed: Analysts’ average rating is “Hold,” with an average price target of $106.67; ratings include three Buys, seven Holds, and three Sells.
• Strong earnings and higher dividend: Principal reported quarterly EPS of $2.50, beating estimates of $2.33, and raised its quarterly dividend from $0.82 to $0.84 per share, equivalent to a 3.0% annualized yield.

OneDigital Investment Advisors LLC acquired a new position in Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 13,407 shares of the company's stock, valued at approximately $1,445,000.

A number of other hedge funds have also recently made changes to their positions in PFG. Plato Investment Management Ltd purchased a new position in Principal Financial Group in the 2nd quarter worth approximately $1,044,000. Bell Investment Advisors Inc purchased a new stake in Principal Financial Group during the 2nd quarter valued at approximately $38,000. AMG National Trust Bank purchased a new stake in Principal Financial Group during the 2nd quarter valued at approximately $8,021,000. Simplicity Wealth LLC bought a new stake in shares of Principal Financial Group during the second quarter valued at approximately $251,000. Finally, Trivium Point Advisory LLC bought a new stake in shares of Principal Financial Group during the second quarter valued at approximately $416,000. Institutional investors own 75.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays upped their target price on shares of Principal Financial Group from $87.00 to $92.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 7th. Evercore set a $108.00 price target on shares of Principal Financial Group in a research note on Monday, April 27th. Citigroup downgraded shares of Principal Financial Group from a "sell" rating to an "underperform" rating in a report on Wednesday, June 24th. Weiss Ratings raised Principal Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 12th. Finally, Morgan Stanley boosted their target price on Principal Financial Group from $107.00 to $112.00 and gave the stock an "equal weight" rating in a research report on Monday, July 6th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $106.67.

Insider Activity at Principal Financial Group

In other news, insider Wee Yee Cheong sold 7,534 shares of Principal Financial Group stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $103.16, for a total value of $777,207.44. Following the completion of the transaction, the insider owned 66,443 shares in the company, valued at approximately $6,854,259.88. The trade was a 10.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.13% of the company's stock.

Principal Financial Group Stock Performance

Shares of NASDAQ:PFG opened at $112.97 on Tuesday. The firm has a fifty day simple moving average of $111.48 and a two-hundred day simple moving average of $101.04. Principal Financial Group, Inc. has a 52 week low of $77.15 and a 52 week high of $116.61. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $24.19 billion, a P/E ratio of 16.05, a PEG ratio of 1.04 and a beta of 0.87.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The company reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.33 by $0.17. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.11 billion. Principal Financial Group had a net margin of 9.93% and a return on equity of 16.49%. During the same quarter last year, the firm earned $2.16 EPS. On average, analysts expect that Principal Financial Group, Inc. will post 9.56 earnings per share 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 25th. Stockholders of record on Thursday, September 3rd will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Thursday, September 3rd. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.82. Principal Financial Group's dividend payout ratio is 46.59%.

Principal Financial Group Company 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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