Mutual Advisors LLC Has $270,000 Stake in Principal Financial Group, Inc. $PFG

Mutual Advisors LLC lifted its position in Principal Financial Group, Inc. (NYSE:PFG) by 21.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,335 shares of the company’s stock after purchasing an additional 578 shares during the quarter. Mutual Advisors LLC’s holdings in Principal Financial Group were worth $270,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Principal Financial Group in the second quarter valued at $25,000. American National Bank & Trust acquired a new position in shares of Principal Financial Group in the second quarter valued at $28,000. von Borstel & Associates Inc. acquired a new position in shares of Principal Financial Group in the first quarter valued at $32,000. Private Wealth Asset Management LLC raised its stake in shares of Principal Financial Group by 163.4% in the second quarter. Private Wealth Asset Management LLC now owns 403 shares of the company’s stock valued at $32,000 after purchasing an additional 250 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Principal Financial Group in the first quarter valued at $34,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Price Performance

Shares of PFG stock opened at $79.39 on Wednesday. The stock’s fifty day moving average is $80.82 and its 200-day moving average is $78.51. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The stock has a market capitalization of $17.69 billion, a PE ratio of 11.88, a PEG ratio of 0.76 and a beta of 1.03. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $90.34.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Monday, July 28th. The company reported $2.16 EPS for the quarter, topping the consensus estimate 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 firm earned $1.63 EPS. Equities research 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 announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Thursday, September 4th were issued a dividend of $0.78 per share. 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 annualized dividend and a dividend yield of 3.9%. Principal Financial Group’s dividend payout ratio (DPR) is currently 62.78%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PFG shares. Piper Sandler set a $94.00 price target on Principal Financial Group and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Evercore ISI upped their price target on Principal Financial Group from $92.00 to $94.00 and gave the company an “in-line” rating in a research report on Thursday, October 9th. JPMorgan Chase & Co. upped their price target on Principal Financial Group from $92.00 to $101.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. UBS Group upped their price target on Principal Financial Group from $85.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, July 29th. Finally, Morgan Stanley upped their price target on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research report on Tuesday, October 7th. Two equities 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 stock. Based on data from MarketBeat, Principal Financial Group currently has an average rating of “Reduce” and a consensus 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.