TD Asset Management Inc Buys 6,845 Shares of Principal Financial Group, Inc. $PFG

Key Points

• TD Asset Management Inc increased its stake in Principal Financial Group by 6.7%, acquiring an additional 6,845 shares for a total of 109,247 shares worth approximately $8.68 million.
• Wall Street analysts have raised their target prices for Principal Financial Group, with estimates ranging from $73.00 to $101.00, reflecting a mixed outlook with ratings of Buy, Hold, and Sell.
• The company reported an earnings per share of $2.16 for its latest quarter, exceeding expectations and marking an increase from the previous year's $1.63 EPS.

TD Asset Management Inc grew its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 6.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,247 shares of the company's stock after buying an additional 6,845 shares during the quarter. TD Asset Management Inc's holdings in Principal Financial Group were worth $8,677,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Principal Financial Group during the second quarter valued at about $25,000. American National Bank & Trust bought a new position in shares of Principal Financial Group during the second quarter valued at about $28,000. von Borstel & Associates Inc. bought a new position in shares of Principal Financial Group during the first quarter valued at about $32,000. Zions Bancorporation National Association UT bought a new position in shares of Principal Financial Group during the first quarter valued at about $34,000. Finally, GKV Capital Management Co. Inc. bought a new stake in shares of Principal Financial Group in the first quarter worth about $45,000. 75.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PFG. Barclays raised their target price on Principal Financial Group from $80.00 to $83.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their target price on Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company raised their target price on Principal Financial Group from $72.00 to $73.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 8th. Morgan Stanley raised their target price on Principal Financial Group from $77.00 to $80.00 and gave the stock an "underweight" rating in a research note on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods raised their target price on Principal Financial Group from $88.00 to $90.00 and gave the stock a "market perform" rating in a research note on Thursday, October 9th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Principal Financial Group currently has an average rating of "Reduce" and a consensus target price of $88.60.

Principal Financial Group Stock Performance

Principal Financial Group stock opened at $78.63 on Monday. The stock's 50 day simple moving average is $80.73 and its two-hundred day simple moving average is $78.46. 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 market cap of $17.52 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 0.76 and a beta of 1.03. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.40.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings data 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. As a group, 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 firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Thursday, September 4th were issued a dividend of $0.78 per share. The ex-dividend date was Thursday, September 4th. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a dividend yield of 4.0%. Principal Financial Group's dividend payout ratio (DPR) is 62.78%.

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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