Sequoia Financial Advisors LLC Boosts Stock Position in Principal Financial Group, Inc. $PFG

Sequoia Financial Advisors LLC grew its stake in Principal Financial Group, Inc. (NYSE:PFG) by 96.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,224 shares of the company’s stock after purchasing an additional 4,540 shares during the period. Sequoia Financial Advisors LLC’s holdings in Principal Financial Group were worth $733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Principal Financial Group in the second quarter valued at approximately $25,000. American National Bank & Trust purchased a new stake in shares of Principal Financial Group in the second quarter valued at approximately $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Principal Financial Group in the first quarter valued at approximately $32,000. Zions Bancorporation National Association UT purchased a new stake in shares of Principal Financial Group in the first quarter valued at approximately $34,000. Finally, GKV Capital Management Co. Inc. purchased a new stake in shares of Principal Financial Group in the first quarter valued at approximately $45,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Up 0.3%

NYSE:PFG opened at $78.63 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The stock’s fifty day moving average is $80.73 and its two-hundred day moving average is $78.47. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.40. The stock has a market capitalization of $17.52 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Monday, July 28th. The company reported $2.16 EPS for the quarter, topping 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 quarter in the previous year, the business earned $1.63 EPS. Research analysts anticipate 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 was paid on Friday, September 26th. Shareholders of record on Thursday, September 4th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 4.0%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.76. The ex-dividend date was Thursday, September 4th. Principal Financial Group’s payout ratio is currently 62.78%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PFG. Wells Fargo & Company upped their price target on Principal Financial Group from $72.00 to $73.00 and gave the company an “underweight” rating in a research report on Wednesday, October 8th. Barclays upped their price objective on Principal Financial Group from $80.00 to $83.00 and gave the company an “underweight” rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price objective on Principal Financial Group from $88.00 to $90.00 and gave the company 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 company an “overweight” rating in a report on Tuesday, October 7th. Finally, UBS Group upped their price objective on Principal Financial Group from $85.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, July 29th. 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. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $88.60.

Principal Financial Group Company 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.