TD Asset Management Inc Grows Stock Holdings in Principal Financial Group, Inc. $PFG

TD Asset Management Inc grew its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 6.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 109,247 shares of the company’s stock after purchasing an additional 6,845 shares during the period. TD Asset Management Inc’s holdings in Principal Financial Group were worth $8,677,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. NorthRock Partners LLC lifted its holdings in shares of Principal Financial Group by 9.2% during the second quarter. NorthRock Partners LLC now owns 5,067 shares of the company’s stock valued at $402,000 after purchasing an additional 429 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in Principal Financial Group by 98.0% in the 2nd quarter. Verdence Capital Advisors LLC now owns 8,639 shares of the company’s stock worth $686,000 after acquiring an additional 4,276 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in Principal Financial Group by 96.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,224 shares of the company’s stock worth $733,000 after acquiring an additional 4,540 shares during the last quarter. Vest Financial LLC raised its holdings in Principal Financial Group by 24.9% in the 2nd quarter. Vest Financial LLC now owns 11,659 shares of the company’s stock worth $926,000 after acquiring an additional 2,326 shares during the last quarter. Finally, GW Henssler & Associates Ltd. raised its holdings in Principal Financial Group by 2.0% in the 2nd quarter. GW Henssler & Associates Ltd. now owns 213,618 shares of the company’s stock worth $16,968,000 after acquiring an additional 4,124 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

Shares of PFG opened at $78.63 on Monday. The firm has a market cap of $17.52 billion, a PE ratio of 11.77, a P/E/G ratio of 0.76 and a beta of 1.03. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $80.73 and a two-hundred day simple moving average of $78.46. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $91.40.

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 quarter last year, the firm posted $1.63 earnings per share. On average, equities analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Thursday, September 4th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Thursday, September 4th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.76. Principal Financial Group’s payout ratio is presently 62.78%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PFG shares. JPMorgan Chase & Co. boosted their price objective on shares of Principal Financial Group from $92.00 to $101.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. UBS Group boosted their price objective on shares of Principal Financial Group from $85.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, July 29th. Evercore ISI boosted their price objective on shares of Principal Financial Group from $92.00 to $94.00 and gave the stock an “in-line” rating in a report on Thursday, October 9th. Barclays boosted their price objective on shares of Principal Financial Group from $80.00 to $83.00 and gave the stock an “underweight” rating in a report on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their price objective on shares of Principal Financial Group from $72.00 to $73.00 and gave the stock an “underweight” rating in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Principal Financial Group currently has an average rating of “Reduce” and an average target price of $88.60.

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.