Praxis Investment Management Inc. Has $368,000 Stake in Principal Financial Group, Inc. $PFG

Praxis Investment Management Inc. decreased its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 34.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,630 shares of the company’s stock after selling 2,480 shares during the quarter. Praxis Investment Management Inc.’s holdings in Principal Financial Group were worth $368,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PFG. GAMMA Investing LLC raised its stake in Principal Financial Group by 40.8% during the first quarter. GAMMA Investing LLC now owns 5,674 shares of the company’s stock worth $479,000 after acquiring an additional 1,645 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new position in Principal Financial Group during the first quarter worth about $202,000. State of Alaska Department of Revenue raised its stake in Principal Financial Group by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 24,659 shares of the company’s stock worth $2,080,000 after acquiring an additional 665 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Principal Financial Group by 81.7% during the first quarter. Blue Trust Inc. now owns 1,003 shares of the company’s stock worth $85,000 after purchasing an additional 451 shares during the last quarter. Finally, Kentucky Retirement Systems grew its holdings in shares of Principal Financial Group by 5.8% during the first quarter. Kentucky Retirement Systems now owns 15,491 shares of the company’s stock worth $1,307,000 after purchasing an additional 850 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Principal Financial Group from $92.00 to $101.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods increased their price target on Principal Financial Group from $88.00 to $90.00 and gave the stock a “market perform” rating in a report on Thursday, October 9th. Piper Sandler set a $94.00 price target on Principal Financial Group and gave the stock an “overweight” rating in a report on Tuesday, October 7th. Morgan Stanley increased their price target on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a report on Tuesday, October 7th. Finally, Wells Fargo & Company increased their price target on Principal Financial Group from $72.00 to $73.00 and gave the stock 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $88.60.

Principal Financial Group Trading Up 0.3%

NYSE PFG opened at $78.63 on Friday. The firm has a market capitalization of $17.52 billion, a P/E ratio of 11.77, a PEG ratio of 0.76 and a beta of 1.03. The business has a fifty day simple moving average of $80.73 and a 200 day simple moving average of $78.47. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.40. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Monday, July 28th. The company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates 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 period last year, the company posted $1.63 earnings per share. On average, analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Thursday, September 4th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Thursday, September 4th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.76. Principal Financial Group’s payout ratio is currently 62.78%.

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.