Envestnet Asset Management Inc. Raises Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Key Points

• Envestnet Asset Management Inc. increased its stake in Principal Financial Group by 12.5% during Q1, owning 49,183 shares valued at approximately $4.15 million after acquiring an additional 5,457 shares.
• Principal Financial Group reported an EPS of $1.81 for the last quarter, missing estimates by $0.02, while analysts project the company will achieve an average of $8.5 EPS for the current year.
• Majority of analysts have rated the stock as a "Hold," with an average price target of $86.30, while price targets range from $73.00 to $101.00.

Envestnet Asset Management Inc. increased its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 12.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,183 shares of the company's stock after acquiring an additional 5,457 shares during the period. Envestnet Asset Management Inc.'s holdings in Principal Financial Group were worth $4,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PFG. Geode Capital Management LLC raised its stake in shares of Principal Financial Group by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company's stock valued at $422,074,000 after buying an additional 52,410 shares during the last quarter. Northern Trust Corp increased its stake in shares of Principal Financial Group by 9.8% in the 4th quarter. Northern Trust Corp now owns 3,662,918 shares of the company's stock valued at $283,546,000 after purchasing an additional 326,604 shares in the last quarter. Norges Bank purchased a new position in shares of Principal Financial Group in the 4th quarter valued at about $217,021,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Principal Financial Group by 12.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,246 shares of the company's stock valued at $145,318,000 after purchasing an additional 209,885 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Principal Financial Group by 73.5% in the 4th quarter. Deutsche Bank AG now owns 1,482,053 shares of the company's stock valued at $114,726,000 after purchasing an additional 627,865 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company's stock.

Principal Financial Group Price Performance

Shares of PFG stock traded up $1.02 during trading hours on Tuesday, reaching $81.41. The company had a trading volume of 231,367 shares, compared to its average volume of 1,391,894. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The stock has a fifty day moving average of $78.62 and a 200-day moving average of $79.96. The company has a market capitalization of $18.25 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 0.76 and a beta of 0.99. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $91.97.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The company reported $2.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.97 by $0.19. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same period last year, the firm earned $1.63 earnings per share. On average, equities analysts anticipate that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Thursday, September 4th will be given 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 dividend on an annualized basis and a dividend yield of 3.83%. Principal Financial Group's dividend payout ratio is 65.10%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PFG shares. Barclays lifted their price target on Principal Financial Group from $76.00 to $80.00 and gave the company an "underweight" rating in a research note on Monday, July 7th. Wells Fargo & Company lifted their price target on Principal Financial Group from $69.00 to $73.00 and gave the company an "underweight" rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods lifted their price target on Principal Financial Group from $87.00 to $90.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Morgan Stanley reiterated an "underweight" rating and issued a $75.00 price objective (up from $71.00) on shares of Principal Financial Group in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. lifted 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. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $87.00.

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.