Wealthfront Advisers LLC raised its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 10.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 63,699 shares of the company's stock after acquiring an additional 5,815 shares during the period. Wealthfront Advisers LLC's holdings in Principal Financial Group were worth $5,374,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in PFG. von Borstel & Associates Inc. acquired a new stake in Principal Financial Group in the first quarter valued at $32,000. Navigoe LLC acquired a new position in Principal Financial Group during the fourth quarter valued at approximately $37,000. Ameriflex Group Inc. acquired a new stake in Principal Financial Group during the fourth quarter worth $37,000. Covestor Ltd boosted its stake in Principal Financial Group by 144.3% during the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock worth $42,000 after buying an additional 319 shares in the last quarter. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of Principal Financial Group in the 1st quarter valued at $46,000. Institutional investors and hedge funds own 75.08% of the company's stock.
Wall Street Analysts Forecast Growth
PFG has been the subject of several research analyst reports. UBS Group decreased their price objective on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. JPMorgan Chase & Co. increased 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. Keefe, Bruyette & Woods lifted their price objective on Principal Financial Group from $87.00 to $90.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Barclays lifted their price objective on Principal Financial Group from $76.00 to $80.00 and gave the stock an "underweight" rating in a report on Monday, July 7th. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $75.00 target price (up previously from $71.00) on shares of Principal Financial Group in a research report on Monday, July 14th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $84.82.
Get Our Latest Report on Principal Financial Group
Principal Financial Group Stock Performance
NYSE PFG traded down $2.32 on Monday, hitting $78.74. The stock had a trading volume of 1,446,521 shares, compared to its average volume of 1,317,579. The company's 50-day moving average is $78.76 and its two-hundred day moving average is $79.86. The stock has a market cap of $17.65 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 0.76 and a beta of 0.99. Principal Financial Group, Inc. has a one year low of $68.39 and a one year high of $91.98. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.
Principal Financial Group (NYSE:PFG - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.02). 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 business posted $1.65 EPS. On average, analysts expect that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.
Principal Financial Group Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Monday, June 2nd were paid a $0.76 dividend. The ex-dividend date was Monday, June 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.86%. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's payout ratio is presently 65.10%.
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.
See Also
Before you consider Principal Financial Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Principal Financial Group wasn't on the list.
While Principal Financial Group currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
