Verdence Capital Advisors LLC Has $686,000 Holdings in Principal Financial Group, Inc. $PFG

Verdence Capital Advisors LLC boosted its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 98.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,639 shares of the company’s stock after buying an additional 4,276 shares during the period. Verdence Capital Advisors LLC’s holdings in Principal Financial Group were worth $686,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Principal Financial Group in the 2nd quarter valued at $25,000. American National Bank & Trust acquired a new position in Principal Financial Group in the second quarter valued at about $28,000. von Borstel & Associates Inc. acquired a new position in Principal Financial Group in the first quarter valued at about $32,000. Zions Bancorporation National Association UT acquired a new position in Principal Financial Group in the first quarter valued at about $34,000. Finally, GKV Capital Management Co. Inc. acquired a new position in Principal Financial Group in the first quarter valued at about $45,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

PFG opened at $81.29 on Wednesday. The business’s 50-day moving average price is $80.55 and its two-hundred day moving average price is $78.59. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $91.97. The company has a market capitalization of $18.11 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 0.76 and a beta of 1.03. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Monday, July 28th. The company reported $2.16 earnings per share (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 last year, the firm posted $1.63 EPS. Equities analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Thursday, September 4th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.8%. The ex-dividend date was Thursday, September 4th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.76. Principal Financial Group’s dividend payout ratio (DPR) is presently 62.78%.

Analysts Set New Price Targets

A number of analysts recently weighed in on PFG shares. UBS Group increased their price target on shares of Principal Financial Group from $85.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, July 29th. Morgan Stanley increased their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods increased their target price on shares of Principal Financial Group from $88.00 to $90.00 and gave the stock a “market perform” rating in a report on Thursday, October 9th. Piper Sandler set a $94.00 price objective on Principal Financial Group and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Finally, Barclays raised their price objective 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. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $88.60.

About Principal Financial Group

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.