Osmosis Investment Management UK Ltd Invests $1.10 Million in Principal Financial Group, Inc. $PFG

Key Points

• Osmosis Investment Management acquired 10,236 shares of Principal Financial Group worth approximately $1.10 million, while institutional investors collectively own 75.08% of the company.
• Principal Financial Group exceeded quarterly earnings expectations, reporting $2.50 EPS versus the $2.33 consensus estimate, though revenue of $3.99 billion fell short of estimates.
• The company raised its quarterly dividend from $0.82 to $0.84 per share, equivalent to a $3.36 annualized payout and a 3.0% yield; analysts maintain a consensus “Hold” rating with an average price target of $106.67.

Osmosis Investment Management UK Ltd acquired a new stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,236 shares of the company's stock, valued at approximately $1,103,000.

Other institutional investors have also made changes to their positions in the company. Integrated Wealth Concepts LLC bought a new stake in Principal Financial Group during the first quarter worth approximately $244,000. NewEdge Advisors LLC raised its position in shares of Principal Financial Group by 24.1% in the first quarter. NewEdge Advisors LLC now owns 7,503 shares of the company's stock valued at $633,000 after purchasing an additional 1,455 shares during the period. Empowered Funds LLC lifted its stake in shares of Principal Financial Group by 11.9% in the first quarter. Empowered Funds LLC now owns 4,678 shares of the company's stock worth $395,000 after buying an additional 497 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Principal Financial Group by 96.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the company's stock worth $181,000 after buying an additional 1,117 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Principal Financial Group by 9.1% during the 2nd quarter. Cerity Partners LLC now owns 37,957 shares of the company's stock worth $3,015,000 after buying an additional 3,175 shares during the period. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Price Performance

NASDAQ:PFG opened at $111.89 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.28 and a quick ratio of 0.28. Principal Financial Group, Inc. has a one year low of $77.90 and a one year high of $116.61. The company has a fifty day moving average price of $111.70 and a 200 day moving average price of $101.63. The stock has a market cap of $23.96 billion, a P/E ratio of 15.89, a PEG ratio of 1.01 and a beta of 0.87.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same period last year, the business posted $2.16 EPS. Analysts anticipate that Principal Financial Group, Inc. will post 9.57 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 3rd will be paid a $0.84 dividend. The ex-dividend date is Thursday, September 3rd. This is a boost from Principal Financial Group's previous quarterly dividend of $0.82. This represents a $3.36 annualized dividend and a dividend yield of 3.0%. Principal Financial Group's dividend payout ratio is 46.59%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PFG shares. Barclays raised their target price on shares of Principal Financial Group from $87.00 to $92.00 and gave the company an "underweight" rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. upped their price target on shares of Principal Financial Group from $106.00 to $107.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Atlantic Securities set a $94.00 price target on Principal Financial Group in a research report on Wednesday, July 15th. Raymond James Financial reiterated an "outperform" rating and issued a $121.00 price objective on shares of Principal Financial Group in a research note on Monday, August 17th. Finally, Piper Sandler boosted their price objective on Principal Financial Group from $113.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 24th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Principal Financial Group presently has an average rating of "Hold" and an average price target of $106.67.

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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