Capital Management Corp VA Grows Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Capital Management Corp VA raised its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 8.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,457 shares of the company's stock after acquiring an additional 9,843 shares during the period. Principal Financial Group makes up about 1.8% of Capital Management Corp VA's portfolio, making the stock its 24th biggest holding. Capital Management Corp VA owned approximately 0.06% of Principal Financial Group worth $10,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PFG. Tompkins Financial Corp bought a new position in shares of Principal Financial Group in the 1st quarter valued at $55,000. Blackhawk Capital Partners LLC. acquired a new position in Principal Financial Group during the 1st quarter worth about $281,000. SG Americas Securities LLC acquired a new position in Principal Financial Group during the 1st quarter worth about $943,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Principal Financial Group by 2.6% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 526,649 shares of the company's stock valued at $44,433,000 after purchasing an additional 13,483 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Principal Financial Group by 802.2% in the 1st quarter. Victory Capital Management Inc. now owns 3,707,534 shares of the company's stock valued at $312,805,000 after purchasing an additional 3,296,608 shares during the period. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

NYSE PFG traded down $0.38 on Monday, hitting $80.68. 199,354 shares of the stock traded hands, compared to its average volume of 1,405,846. The business's fifty day moving average is $78.76 and its two-hundred day moving average is $79.86. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.97. The firm has a market capitalization of $18.09 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 0.76 and a beta of 0.99. 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 (NYSE:PFG - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period in the prior year, the business earned $1.65 EPS. As a group, equities analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Monday, June 2nd were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.77%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's dividend payout ratio is currently 65.10%.

Analyst Upgrades and Downgrades

A number of analysts have commented on PFG shares. JPMorgan Chase & Co. boosted their price objective on Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Wells Fargo & Company lifted their price objective on shares of Principal Financial Group from $69.00 to $73.00 and gave the stock an "underweight" rating in a report on Thursday, July 10th. Barclays lifted their price objective on shares of Principal Financial Group from $76.00 to $80.00 and gave the stock an "underweight" rating in a report on Monday, July 7th. Morgan Stanley reaffirmed an "underweight" rating and set a $75.00 price objective (up from $71.00) on shares of Principal Financial Group in a report on Monday, July 14th. Finally, Piper Sandler lifted their price objective on shares of Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $84.82.

Principal Financial Group Company 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.