United Services Automobile Association Makes New $409,000 Investment in Principal Financial Group, Inc. $PFG

Key Points

• United Services Automobile Association has made a new investment of approximately $409,000 in Principal Financial Group, acquiring 4,920 shares of the stock in the first quarter.
• Multiple hedge funds, including Victory Capital Management and Goldman Sachs Group, have significantly increased their positions in Principal Financial Group, with 75.08% of the stock now held by institutional investors.
• Principal Financial Group recently declared a quarterly dividend of $0.78, representing a 3.8% yield, up from the previous dividend of $0.76.

United Services Automobile Association bought a new position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,920 shares of the company's stock, valued at approximately $409,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. von Borstel & Associates Inc. purchased a new position in Principal Financial Group in the first quarter valued at $32,000. Zions Bancorporation National Association UT purchased a new position in shares of Principal Financial Group in the 1st quarter valued at about $34,000. Ameriflex Group Inc. purchased a new position in Principal Financial Group during the 4th quarter valued at about $37,000. GKV Capital Management Co. Inc. acquired a new position in shares of Principal Financial Group during the first quarter worth $45,000. Finally, MorganRosel Wealth Management LLC bought a new stake in shares of Principal Financial Group in the first quarter worth $46,000. 75.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PFG has been the topic of a number of research reports. Keefe, Bruyette & Woods dropped their price objective on Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating on the stock in a report on Monday, August 4th. Morgan Stanley raised their price objective on Principal Financial Group from $75.00 to $77.00 and gave the company an "underweight" rating in a research note on Monday, August 18th. Wells Fargo & Company decreased their price objective on Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating for the company in a report on Wednesday, July 30th. Barclays boosted their price objective 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. Finally, Piper Sandler raised their price objective 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. Two investment 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. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $86.90.

Principal Financial Group Stock Performance

NYSE:PFG traded down $2.14 during trading hours on Tuesday, hitting $80.81. 619,059 shares of the company traded hands, compared to its average volume of 1,379,716. The firm has a 50-day moving average of $79.47 and a 200 day moving average of $78.89. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $91.97. The stock has a market capitalization of $18.00 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 0.76 and a beta of 1.03.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its earnings results 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 net margin of 9.74% and a return on equity of 14.68%. During the same quarter in the prior year, the company posted $1.63 EPS. On average, analysts forecast that Principal Financial Group, Inc. will post 8.5 EPS 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 issued a dividend of $0.78 per share. The ex-dividend date is Thursday, September 4th. This is a boost from Principal Financial Group's previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a dividend yield of 3.9%. Principal Financial Group's dividend payout ratio 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.