Principal Financial Group, Inc. $PFG Position Raised by Vident Advisory LLC

Key Points

• Vident Advisory LLC increased its stake in Principal Financial Group by 259.3% in Q1, now holding 24,051 shares valued at $2,029,000.
• The company has recently planned a dividend increase to $0.78 per share, marking a rise from the previous $0.76 dividend.
• Principal Financial Group's share price was $80.51 as of the latest report, with analyst ratings reflecting a consensus rating of "Reduce" and an average price target of $86.90.

Vident Advisory LLC lifted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 259.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,051 shares of the company's stock after purchasing an additional 17,358 shares during the quarter. Vident Advisory LLC's holdings in Principal Financial Group were worth $2,029,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PFG. Stifel Financial Corp increased its stake in Principal Financial Group by 3.8% in the 4th quarter. Stifel Financial Corp now owns 14,638 shares of the company's stock valued at $1,133,000 after purchasing an additional 530 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Principal Financial Group by 0.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 128,206 shares of the company's stock valued at $9,924,000 after buying an additional 502 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Principal Financial Group by 431.3% during the fourth quarter. AQR Capital Management LLC now owns 118,730 shares of the company's stock worth $9,191,000 after purchasing an additional 96,381 shares during the last quarter. Aptus Capital Advisors LLC grew its position in shares of Principal Financial Group by 12.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 3,109 shares of the company's stock valued at $241,000 after purchasing an additional 344 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of Principal Financial Group by 27.6% in the fourth quarter. BNP Paribas Financial Markets now owns 469,424 shares of the company's stock valued at $36,338,000 after purchasing an additional 101,579 shares during the period. Institutional investors and hedge funds own 75.08% of the company's stock.

Analyst Upgrades and Downgrades

PFG has been the topic of several recent analyst reports. UBS Group increased their target price on Principal Financial Group from $85.00 to $87.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Barclays raised their target price on shares of Principal Financial Group from $76.00 to $80.00 and gave the stock an "underweight" rating in a research report on Monday, July 7th. Morgan Stanley upped their price target on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an "underweight" rating in a research report on Monday, August 18th. Wells Fargo & Company decreased their price target on shares of 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. upped their price objective on Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. 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. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $86.90.

Principal Financial Group Stock Up 1.4%

Shares of NYSE PFG traded up $1.12 during midday trading on Thursday, reaching $81.30. 1,001,406 shares of the company's stock were exchanged, compared to its average volume of 1,392,038. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $91.97. The business's fifty day moving average price is $79.30 and its two-hundred day moving average price is $79.27. 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 issued its quarterly earnings results on Monday, July 28th. The company reported $2.16 EPS for the quarter, beating 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 period in the prior year, the company earned $1.63 earnings per share. Analysts forecast that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The company 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 $0.78 dividend. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.76. The ex-dividend date is Thursday, September 4th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.8%. Principal Financial Group's dividend payout ratio (DPR) is presently 62.78%.

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.