IFP Advisors Inc Has $677,000 Position in Principal Financial Group, Inc. $PFG

IFP Advisors Inc lessened its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 2.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,974 shares of the company’s stock after selling 209 shares during the quarter. IFP Advisors Inc’s holdings in Principal Financial Group were worth $677,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PFG. Oliver Lagore Vanvalin Investment Group bought a new stake in Principal Financial Group during the 2nd quarter valued at $25,000. American National Bank & Trust bought a new stake in Principal Financial Group during the 2nd quarter valued at $28,000. von Borstel & Associates Inc. bought a new stake in Principal Financial Group during the 1st quarter valued at $32,000. Zions Bancorporation National Association UT bought a new stake in Principal Financial Group during the 1st quarter valued at $34,000. Finally, GKV Capital Management Co. Inc. bought a new stake in Principal Financial Group during the 1st quarter valued at $45,000. Institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

PFG has been the subject of a number of recent research reports. Morgan Stanley boosted 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 increased their target price on shares of Principal Financial Group from $72.00 to $73.00 and gave the company an “underweight” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of Principal Financial Group from $92.00 to $101.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Evercore ISI increased their target price on shares of Principal Financial Group from $92.00 to $94.00 and gave the company an “in-line” rating in a report on Thursday. Finally, Barclays increased their target price on shares of Principal Financial Group from $80.00 to $83.00 and gave the company an “underweight” rating in a report on Wednesday, October 8th. 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 stock. According to data from MarketBeat, Principal Financial Group has a consensus rating of “Reduce” and a consensus target price of $88.60.

Principal Financial Group Trading Up 0.3%

Shares of PFG opened at $79.67 on Tuesday. The firm’s 50 day simple moving average is $80.45 and its 200 day simple moving average is $78.57. The company has a market capitalization of $17.75 billion, a P/E ratio of 11.93, a P/E/G ratio of 0.76 and a beta of 1.03. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $91.97.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.19. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period in the prior year, the company earned $1.63 EPS. Sell-side analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Thursday, September 4th were paid a $0.78 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Thursday, September 4th. Principal Financial Group’s payout ratio is 62.78%.

Principal Financial Group 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.