8,466 Shares in Principal Financial Group, Inc. $PFG Acquired by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. bought a new position in Principal Financial Group, Inc. (NASDAQ:PFG) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,466 shares of the company’s stock, valued at approximately $912,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI bought a new position in shares of Principal Financial Group during the 2nd quarter valued at $219,000. Paladin Partners LLC bought a new stake in shares of Principal Financial Group in the second quarter worth $268,000. BlackRock Inc. bought a new stake in shares of Principal Financial Group in the second quarter worth $2,157,181,000. Pallas Capital Advisors LLC purchased a new stake in Principal Financial Group during the second quarter valued at $272,000. Finally, Deutsche Bank AG bought a new position in Principal Financial Group in the second quarter valued at about $132,735,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PFG shares. Evercore set a $108.00 target price on Principal Financial Group in a research report on Monday, April 27th. Citigroup lowered shares of Principal Financial Group from a “sell” rating to an “underperform” rating in a research report on Wednesday, June 24th. Raymond James Financial reiterated an “outperform” rating and issued a $121.00 price objective on shares of Principal Financial Group in a research note on Monday. Piper Sandler raised their price objective on shares of Principal Financial Group from $113.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Finally, Atlantic Securities set a $94.00 target price on shares of Principal Financial Group in a report on Wednesday, July 15th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $106.67.

Principal Financial Group Price Performance

NASDAQ PFG opened at $111.64 on Thursday. The business’s fifty day moving average is $111.66 and its 200 day moving average is $101.30. Principal Financial Group, Inc. has a fifty-two week low of $77.34 and a fifty-two week high of $116.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market capitalization of $23.90 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.03 and a beta of 0.88.

Principal Financial Group (NASDAQ:PFG) last issued its quarterly earnings results on Monday, July 27th. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.17. Principal Financial Group had a return on equity of 16.49% and a net margin of 9.93%.The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the prior year, the business posted $2.16 earnings per share. Sell-side analysts predict that Principal Financial Group, Inc. will post 9.57 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 3rd will be paid a dividend of $0.84 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.82. The ex-dividend date is Thursday, September 3rd. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.0%. Principal Financial Group’s dividend payout ratio is presently 46.59%.

Principal Financial Group Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.