Meeder Advisory Services Inc. Invests $912,000 in Principal Financial Group, Inc. $PFG

Meeder Advisory Services Inc. acquired a new stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 8,466 shares of the company’s stock, valued at approximately $912,000.

A number of other large investors also recently modified their holdings of PFG. DV Equities LLC purchased a new stake in Principal Financial Group in the 4th quarter worth $25,000. Hilton Head Capital Partners LLC bought a new stake in Principal Financial Group during the fourth quarter valued at about $26,000. Valley Wealth Managers Inc. purchased a new position in shares of Principal Financial Group in the first quarter valued at about $27,000. MBM Wealth Consultants LLC purchased a new position in shares of Principal Financial Group in the first quarter valued at about $28,000. Finally, Quest 10 Wealth Builders Inc. boosted its stake in shares of Principal Financial Group by 343.6% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company’s stock worth $30,000 after acquiring an additional 268 shares during the period. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Get Principal Financial Group alerts:

Principal Financial Group Trading Down 1.3%

Shares of Principal Financial Group stock opened at $111.64 on Thursday. Principal Financial Group, Inc. has a twelve month low of $77.34 and a twelve month high of $116.61. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $111.66 and a 200-day moving average price of $101.30. The firm has a market cap of $23.90 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.03 and a beta of 0.88.

Principal Financial Group (NASDAQ:PFG – Get Free Report) last posted its earnings results on Monday, July 27th. The company reported $2.50 EPS for the quarter, topping 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 company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.11 billion. During the same period in the previous year, the business earned $2.16 earnings per share. Equities research analysts anticipate that Principal Financial Group, Inc. will post 9.57 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 3rd will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, September 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.82. Principal Financial Group’s dividend payout ratio is presently 46.59%.

Analyst Ratings Changes

Several analysts recently issued reports on PFG shares. Weiss Ratings upgraded Principal Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Barclays boosted their price target on Principal Financial Group from $87.00 to $92.00 and gave the stock an “underweight” rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods upped their price target on Principal Financial Group from $102.00 to $112.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Raymond James Financial reaffirmed an “outperform” rating and set a $121.00 price objective on shares of Principal Financial Group in a report on Monday. Finally, Morgan Stanley lifted their price objective on shares of Principal Financial Group from $107.00 to $112.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $106.67.

Get Our Latest Stock Report on PFG

Principal Financial Group Company Profile

(Free Report)

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.

Read More

• Five stocks we like better than Principal Financial Group
• Bloom Energy’s AI Surge Meets a Valuation Reality Check
• Target Is Winning Shoppers Back—Can the Rally Reach $180?
• IonQ’s Space Contract Points to a New Frontier for Quantum Investors
• Is Apple’s AI Strategy Smarter Than Skeptics Think?

Want to see what other hedge funds are holding PFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Principal Financial Group, Inc. (NASDAQ:PFG – Free Report).

Receive News & Ratings for Principal Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principal Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.