Vise Technologies Inc. acquired a new stake in Principal Financial Group, Inc. (NASDAQ:PFG – Free Report) during the 2nd quarter, Holdings Channel reports. The fund acquired 6,132 shares of the company’s stock, valued at approximately $661,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. bought a new position in shares of Principal Financial Group during the fourth quarter worth about $32,473,000. MUFG Securities EMEA plc raised its position in Principal Financial Group by 1,219.5% in the 4th quarter. MUFG Securities EMEA plc now owns 51,196 shares of the company’s stock valued at $4,516,000 after buying an additional 47,316 shares during the last quarter. BlackRock Inc. bought a new stake in Principal Financial Group in the 2nd quarter valued at approximately $2,157,181,000. Commerzbank Aktiengesellschaft FI bought a new stake in Principal Financial Group in the 4th quarter valued at approximately $1,277,000. Finally, Legal & General Group Plc boosted its position in Principal Financial Group by 1.5% during the 4th quarter. Legal & General Group Plc now owns 1,639,302 shares of the company’s stock worth $144,603,000 after acquiring an additional 23,686 shares during the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. Bank of America raised their price target on shares of Principal Financial Group from $94.00 to $104.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. boosted their price objective on shares of Principal Financial Group from $106.00 to $107.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Jefferies Financial Group increased their target price on shares of Principal Financial Group from $91.00 to $98.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Weiss Ratings raised shares of Principal Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Finally, Citigroup lowered shares of Principal Financial Group from a “sell” rating to an “underperform” rating in a research note on Wednesday, June 24th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $106.67.
Principal Financial Group Stock Performance
Shares of Principal Financial Group stock opened at $110.75 on Monday. The stock has a market cap of $23.71 billion, a P/E ratio of 15.73, a P/E/G 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 12-month low of $77.90 and a 12-month high of $116.61. The business’s 50 day moving average is $111.67 and its 200-day moving average is $101.51.
Principal Financial Group (NASDAQ:PFG – Get Free Report) last released its earnings results on Monday, July 27th. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.17. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.11 billion. Principal Financial Group had a net margin of 9.93% and a return on equity of 16.49%. During the same period last year, the business earned $2.16 earnings per share. Equities research analysts predict that Principal Financial Group, Inc. will post 9.57 earnings per share for the current fiscal year.
Principal Financial Group Increases Dividend
The company also recently declared 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 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 3.0%. The ex-dividend date is Thursday, September 3rd. Principal Financial Group’s dividend payout ratio is 46.59%.
Principal Financial Group 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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