Swiss National Bank lowered its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 1.4% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 645,100 shares of the company's stock after selling 9,100 shares during the period. Swiss National Bank owned about 0.29% of Principal Financial Group worth $54,427,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the business. von Borstel & Associates Inc. acquired a new position in Principal Financial Group in the 1st quarter worth about $32,000. Navigoe LLC acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at about $37,000. Ameriflex Group Inc. acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at about $37,000. Covestor Ltd increased its stake in shares of Principal Financial Group by 144.3% in the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock valued at $42,000 after buying an additional 319 shares during the period. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of Principal Financial Group in the first quarter valued at about $46,000. Institutional investors and hedge funds own 75.08% of the company's stock.
Principal Financial Group Stock Up 1.4%
PFG stock traded up $1.10 during midday trading on Wednesday, hitting $78.34. The company's stock had a trading volume of 2,068,070 shares, compared to its average volume of 1,423,268. The company has a market cap of $17.45 billion, a PE ratio of 11.73, a P/E/G ratio of 0.76 and a beta of 1.00. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.97. 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's 50-day moving average is $78.38 and its 200-day moving average is $79.65.
Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, beating 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 in the previous year, the business posted $1.63 EPS. On average, equities research analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.
Principal Financial Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 4th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Thursday, September 4th. This is a boost from Principal Financial Group's previous quarterly dividend of $0.76. Principal Financial Group's dividend payout ratio (DPR) is currently 62.78%.
Analysts Set New Price Targets
Several brokerages recently commented on PFG. Barclays upped their target price on Principal Financial Group from $76.00 to $80.00 and gave the company an "underweight" rating in a research report on Monday, July 7th. UBS Group upped their target price on Principal Financial Group from $85.00 to $87.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Piper Sandler upped their target price on Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Wells Fargo & Company cut their price target on Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating on the stock in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. increased their price target 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 equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $86.70.
Check Out Our Latest Research Report on Principal Financial Group
Principal Financial Group Profile
(
Free Report)
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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