Principal Financial Group, Inc. (NYSE:PFG) Shares Bought by Andra AP fonden

Andra AP fonden grew its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 18.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,500 shares of the company’s stock after purchasing an additional 10,700 shares during the period. Andra AP fonden’s holdings in Principal Financial Group were worth $5,195,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Principal Financial Group by 15.5% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 213,343 shares of the company’s stock worth $16,180,000 after acquiring an additional 28,641 shares during the period. Rhumbline Advisers grew its holdings in shares of Principal Financial Group by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 533,363 shares of the company’s stock worth $40,450,000 after acquiring an additional 12,533 shares during the period. Archer Investment Corp grew its holdings in shares of Principal Financial Group by 179.7% in the 2nd quarter. Archer Investment Corp now owns 3,479 shares of the company’s stock worth $264,000 after acquiring an additional 2,235 shares during the period. Jacobi Capital Management LLC grew its holdings in shares of Principal Financial Group by 26.5% in the 2nd quarter. Jacobi Capital Management LLC now owns 5,914 shares of the company’s stock worth $449,000 after acquiring an additional 1,238 shares during the period. Finally, Winch Advisory Services LLC grew its holdings in shares of Principal Financial Group by 115.1% in the 2nd quarter. Winch Advisory Services LLC now owns 798 shares of the company’s stock worth $60,000 after acquiring an additional 427 shares during the period. Institutional investors and hedge funds own 70.68% of the company’s stock.

Principal Financial Group Trading Up 3.4 %

Shares of Principal Financial Group stock opened at $71.62 on Wednesday. Principal Financial Group, Inc. has a fifty-two week low of $65.17 and a fifty-two week high of $95.20. The firm has a market cap of $17.07 billion, a PE ratio of 10.77, a P/E/G ratio of 1.21 and a beta of 1.27. The business’s fifty day moving average is $71.42 and its two-hundred day moving average is $74.11. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.37.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, October 26th. The company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.07. Principal Financial Group had a return on equity of 15.30% and a net margin of 10.54%. The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.58 billion. Analysts anticipate that Principal Financial Group, Inc. will post 6.4 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Friday, December 1st will be given a $0.67 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.65. This represents a $2.68 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Thursday, November 30th. Principal Financial Group’s dividend payout ratio (DPR) is 42.83%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PFG. Royal Bank of Canada restated a “sector perform” rating and issued a $83.00 price target on shares of Principal Financial Group in a report on Monday, July 31st. Wells Fargo & Company lowered their price target on Principal Financial Group from $78.00 to $72.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 17th. Jefferies Financial Group lowered their target price on Principal Financial Group from $69.00 to $66.00 and set a “hold” rating on the stock in a report on Thursday, September 14th. Morgan Stanley increased their target price on Principal Financial Group from $70.00 to $71.00 and gave the company an “underweight” rating in a report on Friday, October 27th. Finally, JPMorgan Chase & Co. lowered their target price on Principal Financial Group from $87.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, October 6th. Six research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, Principal Financial Group currently has an average rating of “Hold” and a consensus price target of $75.31.

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 Global Investors, Principal International, and U.S. Insurance Solutions segments.