Principal Financial Group, Inc. $PFG Shares Bought by Sequoia Financial Advisors LLC

Key Points

• Sequoia Financial Advisors LLC increased its holdings in Principal Financial Group by 96.9% during the second quarter, resulting in ownership of 9,224 shares worth approximately $733,000.
• Principal Financial Group announced a quarterly dividend increase to $0.78 per share, marking a rise from the previous $0.76 and reflecting a 4.0% yield.
• Recent earnings reported a $2.16 EPS, exceeding estimates, and analysts expect a 8.5 EPS for the current fiscal year.

Sequoia Financial Advisors LLC boosted its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 96.9% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 9,224 shares of the company's stock after acquiring an additional 4,540 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Principal Financial Group were worth $733,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group acquired a new stake in Principal Financial Group during the 2nd quarter worth about $25,000. American National Bank & Trust acquired a new position in shares of Principal Financial Group in the 2nd quarter valued at about $28,000. von Borstel & Associates Inc. acquired a new position in shares of Principal Financial Group in the 1st quarter valued at about $32,000. Zions Bancorporation National Association UT acquired a new position in shares of Principal Financial Group in the 1st quarter valued at about $34,000. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of Principal Financial Group in the 1st quarter valued at about $45,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Price Performance

NYSE:PFG opened at $78.63 on Friday. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.40. The stock has a 50 day moving average of $80.73 and a two-hundred day moving average of $78.47. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The firm has a market cap of $17.52 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The company reported $2.16 EPS for the quarter, topping the consensus estimate 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 last year, the company posted $1.63 earnings per share. On average, analysts expect that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Thursday, September 4th were paid a dividend of $0.78 per share. This is an increase from Principal Financial Group's previous quarterly dividend of $0.76. The ex-dividend date was Thursday, September 4th. This represents a $3.12 annualized dividend and a yield of 4.0%. Principal Financial Group's dividend payout ratio (DPR) is presently 62.78%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a report on Tuesday, October 7th. Evercore ISI boosted their price objective on Principal Financial Group from $92.00 to $94.00 and gave the company an "in-line" rating in a report on Thursday, October 9th. JPMorgan Chase & Co. boosted their price objective on Principal Financial Group from $92.00 to $101.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Barclays upped their price target on Principal Financial Group from $80.00 to $83.00 and gave the stock an "underweight" rating in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods upped their price target on Principal Financial Group from $88.00 to $90.00 and gave the stock a "market perform" rating in a report on Thursday, October 9th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $88.60.

Principal Financial Group 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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