Optima Capital LLC Acquires Shares of 4,152 Principal Financial Group, Inc. $PFG

Key Points

• Optima Capital LLC has acquired a new stake in Principal Financial Group, Inc., purchasing 4,152 shares valued at approximately $330,000 during the 2nd quarter.
• Principal Financial Group recently increased its quarterly dividend from $0.76 to $0.78, with a dividend yield of 3.8%.
• The company's earnings per share (EPS) for the last quarter was $2.16, exceeding the consensus estimate of $1.97 by $0.19.

Optima Capital LLC acquired a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,152 shares of the company's stock, valued at approximately $330,000.

Several other institutional investors have also added to or reduced their stakes in the business. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Principal Financial Group in the second quarter valued at approximately $25,000. von Borstel & Associates Inc. bought a new position in shares of Principal Financial Group in the first quarter valued at approximately $32,000. Zions Bancorporation National Association UT bought a new position in shares of Principal Financial Group in the first quarter valued at approximately $34,000. Ameriflex Group Inc. bought a new position in shares of Principal Financial Group in the fourth quarter valued at approximately $37,000. Finally, GKV Capital Management Co. Inc. bought a new position in shares of Principal Financial Group in the first quarter valued at approximately $45,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Up 0.6%

Shares of Principal Financial Group stock opened at $82.21 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $91.97. The stock has a market capitalization of $18.31 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 0.76 and a beta of 1.03. The company's 50 day moving average price is $79.49 and its 200-day moving average price is $78.70.

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 (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 period in the previous year, the business earned $1.63 EPS. Equities research analysts forecast that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Thursday, September 4th will be issued a $0.78 dividend. 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 dividend yield of 3.8%. The ex-dividend date is Thursday, September 4th. Principal Financial Group's dividend payout ratio (DPR) is 62.78%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PFG. Keefe, Bruyette & Woods cut their price objective on shares of Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating for the company in a research report on Monday, August 4th. Morgan Stanley raised their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an "underweight" rating in a research report on Monday, August 18th. Wells Fargo & Company cut their price objective on shares of Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating for the company in a research report on Wednesday, July 30th. Piper Sandler raised their price objective on shares of Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Principal Financial Group from $92.00 to $101.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Reduce" and an average price target of $86.90.

About Principal Financial Group

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.

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