Principal Financial Group, Inc. $PFG Position Increased by Capital Management Corp VA

Key Points

• Capital Management Corp VA increased its holdings in Principal Financial Group by 15.5%, owning a total of 144,879 shares, making it the 24th largest position in their portfolio.
• The company reported earnings of $2.16 per share for the last quarter, exceeding analysts' estimates of $1.97, with a return on equity of 14.68%.
• Principal Financial Group recently raised its quarterly dividend to $0.78 per share, reflecting a strong dividend yield of 3.8%.

Capital Management Corp VA boosted its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 15.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 144,879 shares of the company's stock after buying an additional 19,422 shares during the quarter. Principal Financial Group accounts for about 2.0% of Capital Management Corp VA's investment portfolio, making the stock its 24th largest position. Capital Management Corp VA owned approximately 0.06% of Principal Financial Group worth $11,508,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geneos Wealth Management Inc. grew its position in Principal Financial Group by 7.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,889 shares of the company's stock worth $159,000 after purchasing an additional 134 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in shares of Principal Financial Group by 0.5% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 27,536 shares of the company's stock worth $2,323,000 after acquiring an additional 139 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in Principal Financial Group by 3.9% during the first quarter. Stratos Wealth Partners LTD. now owns 3,826 shares of the company's stock valued at $323,000 after purchasing an additional 144 shares during the last quarter. Raiffeisen Bank International AG raised its holdings in Principal Financial Group by 12.6% in the 1st quarter. Raiffeisen Bank International AG now owns 1,380 shares of the company's stock worth $115,000 after acquiring an additional 154 shares during the period. Finally, Sagespring Wealth Partners LLC lifted its position in shares of Principal Financial Group by 4.0% during the 2nd quarter. Sagespring Wealth Partners LLC now owns 4,035 shares of the company's stock worth $321,000 after purchasing an additional 154 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Stock Performance

Shares of NYSE PFG opened at $81.29 on Wednesday. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.97. 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 50 day moving average price of $80.55 and a 200 day moving average price of $78.59. The stock has a market capitalization of $18.11 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, topping 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 quarter in the prior year, the firm earned $1.63 EPS. Analysts predict that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Thursday, September 4th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, September 4th. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.76. Principal Financial Group's payout ratio is presently 62.78%.

Analyst Ratings Changes

PFG has been the subject of several recent research reports. Barclays upped their price target on Principal Financial Group from $80.00 to $83.00 and gave the company an "underweight" rating in a report on Wednesday, October 8th. UBS Group boosted their target price on Principal Financial Group from $85.00 to $87.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. 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. Morgan Stanley raised their price target on Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Principal Financial Group from $88.00 to $90.00 and gave the company a "market perform" rating in a research report on Thursday, October 9th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $88.60.

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.

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