Two Sigma Securities LLC acquired a new stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG – Free Report) in the second quarter, HoldingsChannel.com reports. The fund acquired 8,178 shares of the company’s stock, valued at approximately $881,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new position in shares of Principal Financial Group during the first quarter worth $244,000. NewEdge Advisors LLC increased its holdings in Principal Financial Group by 24.1% in the 1st quarter. NewEdge Advisors LLC now owns 7,503 shares of the company’s stock valued at $633,000 after acquiring an additional 1,455 shares during the last quarter. Empowered Funds LLC lifted its stake in Principal Financial Group by 11.9% in the 1st quarter. Empowered Funds LLC now owns 4,678 shares of the company’s stock worth $395,000 after purchasing an additional 497 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Principal Financial Group by 96.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the company’s stock worth $181,000 after purchasing an additional 1,117 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Principal Financial Group by 9.1% during the 2nd quarter. Cerity Partners LLC now owns 37,957 shares of the company’s stock valued at $3,015,000 after purchasing an additional 3,175 shares during the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.
Principal Financial Group Price Performance
PFG opened at $110.16 on Tuesday. The business has a fifty day moving average of $111.81 and a 200 day moving average of $102.18. The stock has a market cap of $23.59 billion, a P/E ratio of 15.65, a PEG ratio of 1.01 and a beta of 0.87. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 52-week low of $77.90 and a 52-week high of $116.61.
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 of this dividend is Thursday, September 3rd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.82. This represents a $3.36 dividend on an annualized basis and a yield of 3.1%. Principal Financial Group’s dividend payout ratio is 46.59%.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on PFG shares. Barclays raised their price target on Principal Financial Group from $87.00 to $92.00 and gave the company an “underweight” rating in a report on Tuesday, July 7th. Wells Fargo & Company lowered their target price on 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. Bank of America raised their target price on shares of Principal Financial Group from $94.00 to $104.00 and gave the company an “underperform” rating in a report on Tuesday, July 28th. Raymond James Financial restated an “outperform” rating and issued a $121.00 price target on shares of Principal Financial Group in a research report on Monday, August 17th. Finally, Jefferies Financial Group upped their price target on shares of Principal Financial Group from $91.00 to $98.00 and gave the company a “hold” rating in a research note on Friday, July 10th. 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 stock currently has a consensus rating of “Hold” and an average target price of $106.67.
Check Out Our Latest Analysis on Principal Financial Group
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.
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