Vest Financial LLC raised its position in shares of Principal Financial Group, Inc. (NYSE:PFG – Free Report) by 24.9% during the 2nd quarter, Holdings Channel reports. The fund owned 11,659 shares of the company’s stock after purchasing an additional 2,326 shares during the period. Vest Financial LLC’s holdings in Principal Financial Group were worth $926,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group bought a new stake in Principal Financial Group in the second quarter worth $25,000. American National Bank & Trust purchased a new stake in Principal Financial Group during the second quarter valued at $28,000. von Borstel & Associates Inc. purchased a new stake in Principal Financial Group during the first quarter valued at $32,000. Zions Bancorporation National Association UT purchased a new stake in Principal Financial Group during the first quarter valued at $34,000. Finally, GKV Capital Management Co. Inc. purchased a new stake in Principal Financial Group during the first quarter valued at $45,000. 75.08% of the stock is currently owned by institutional investors.
Principal Financial Group Stock Down 0.5%
Shares of PFG opened at $80.90 on Thursday. The company has a market cap of $18.02 billion, a PE ratio of 12.11, a P/E/G ratio of 0.76 and a beta of 1.03. The business has a fifty day moving average of $80.63 and a 200 day moving average of $78.61. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $91.97. 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 Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Thursday, September 4th were issued a $0.78 dividend. The ex-dividend date was Thursday, September 4th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.9%. Principal Financial Group’s dividend payout ratio (DPR) is currently 62.78%.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on PFG. UBS Group upped 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 note on Tuesday, July 29th. Morgan Stanley upped their price target on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Tuesday, October 7th. Wells Fargo & Company upped their price target on shares of Principal Financial Group from $72.00 to $73.00 and gave the company an “underweight” rating in a research note on Wednesday, October 8th. Evercore ISI raised their price target on Principal Financial Group from $92.00 to $94.00 and gave the stock an “in-line” rating in a research report on Thursday, October 9th. Finally, Piper Sandler set a $94.00 price target on Principal Financial Group and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Principal Financial Group currently has a consensus rating of “Reduce” and an average target price of $88.60.
Read Our Latest Stock Report on Principal Financial Group
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.
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