Equitable Holdings Inc. purchased a new position in shares of Principal Financial Group, Inc. (NASDAQ:PFG – Free Report) during the second quarter, HoldingsChannel.com reports. The fund purchased 7,859 shares of the company’s stock, valued at approximately $847,000.
Several other institutional investors also recently made changes to their positions in PFG. Focus Financial Network Inc. raised its holdings in shares of Principal Financial Group by 2.0% in the 2nd quarter. Focus Financial Network Inc. now owns 5,613 shares of the company’s stock worth $605,000 after purchasing an additional 110 shares during the period. Prosperity Consulting Group LLC grew its stake in Principal Financial Group by 1.6% during the first quarter. Prosperity Consulting Group LLC now owns 6,921 shares of the company’s stock worth $624,000 after buying an additional 111 shares during the period. Blue Trust Inc. grew its stake in Principal Financial Group by 14.8% during the first quarter. Blue Trust Inc. now owns 921 shares of the company’s stock worth $83,000 after buying an additional 119 shares during the period. Parallel Advisors LLC raised its stake in shares of Principal Financial Group by 7.6% in the 4th quarter. Parallel Advisors LLC now owns 1,686 shares of the company’s stock valued at $149,000 after acquiring an additional 119 shares during the period. Finally, Beacon Financial Group lifted its holdings in shares of Principal Financial Group by 2.8% during the 1st quarter. Beacon Financial Group now owns 4,451 shares of the company’s stock valued at $401,000 after acquiring an additional 120 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.
Principal Financial Group Price Performance
Shares of NASDAQ:PFG opened at $111.41 on Friday. 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 firm has a 50-day simple moving average of $111.84 and a 200 day simple moving average of $102.02. The company has a market cap of $23.85 billion, a PE ratio of 15.83, a P/E/G ratio of 1.01 and a beta of 0.88. Principal Financial Group, Inc. has a fifty-two week low of $77.90 and a fifty-two week high of $116.61.
Principal Financial Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 3rd will be issued a $0.84 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.0%. Principal Financial Group’s dividend payout ratio is 46.59%.
Analyst Ratings Changes
Several research analysts have commented on PFG shares. Keefe, Bruyette & Woods raised their price objective on Principal Financial Group from $102.00 to $112.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. Citigroup downgraded Principal Financial Group from a “sell” rating to an “underperform” rating in a report on Wednesday, June 24th. Piper Sandler boosted their price target on Principal Financial Group from $113.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Jefferies Financial Group upped their price target on Principal Financial Group from $91.00 to $98.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Finally, Weiss Ratings upgraded shares of Principal Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $106.67.
View Our Latest Stock Report on PFG
About Principal Financial Group
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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