7,859 Shares in Principal Financial Group, Inc. $PFG Bought by Equitable Holdings Inc.

Equitable Holdings Inc. bought a new position in shares of Principal Financial Group, Inc. (NASDAQ:PFG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,859 shares of the company’s stock, valued at approximately $847,000.

Several other large investors have also recently bought and sold shares of the business. Ancora Advisors LLC acquired a new stake in Principal Financial Group during the second quarter worth approximately $27,000. DV Equities LLC purchased a new position in shares of Principal Financial Group in the 4th quarter valued at $25,000. Hilton Head Capital Partners LLC acquired a new stake in Principal Financial Group during the 4th quarter worth $26,000. Valley Wealth Managers Inc. purchased a new stake in Principal Financial Group in the first quarter valued at $27,000. Finally, MBM Wealth Consultants LLC acquired a new position in Principal Financial Group in the first quarter valued at $28,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Keefe, Bruyette & Woods lifted their price target on Principal Financial Group from $102.00 to $112.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. Weiss Ratings raised Principal Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Barclays upped their price target on Principal Financial Group from $87.00 to $92.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. boosted their price target on shares of Principal Financial Group from $106.00 to $107.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Finally, Wells Fargo & Company reduced their price objective on shares of Principal Financial Group from $114.00 to $113.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $106.67.

Principal Financial Group Stock Down 0.7%

Shares of NASDAQ PFG opened at $111.41 on Friday. The firm’s 50-day moving average is $111.84 and its two-hundred day moving average is $102.02. The company has a market capitalization of $23.85 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 1.01 and a beta of 0.88. Principal Financial Group, Inc. has a 12-month low of $77.90 and a 12-month high of $116.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.28 and a quick ratio of 0.28.

Principal Financial Group (NASDAQ:PFG) last announced its earnings results on Monday, July 27th. The company reported $2.50 EPS for the quarter, beating 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 firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the prior year, the firm earned $2.16 EPS. Equities analysts anticipate that Principal Financial Group, Inc. will post 9.62 EPS for the current fiscal 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 given a dividend of $0.84 per share. The ex-dividend date is Thursday, September 3rd. This represents a $3.36 dividend on an annualized basis and a yield of 3.0%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.82. Principal Financial Group’s dividend payout ratio (DPR) is 46.59%.

Principal Financial Group Company 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.