9,515 Shares in Principal Financial Group, Inc. $PFG Bought by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC acquired a new position in Principal Financial Group, Inc. (NASDAQ:PFG) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 9,515 shares of the company’s stock, valued at approximately $1,026,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PFG. BlackRock Inc. purchased a new stake in shares of Principal Financial Group during the 2nd quarter worth $2,157,181,000. Bank of America Corp DE increased its holdings in shares of Principal Financial Group by 9.6% in the 2nd quarter. Bank of America Corp DE now owns 12,370,852 shares of the company’s stock valued at $982,617,000 after purchasing an additional 1,083,991 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Principal Financial Group by 3.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,886,509 shares of the company’s stock valued at $350,187,000 after purchasing an additional 119,327 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Principal Financial Group by 23.2% in the third quarter. Invesco Ltd. now owns 3,376,797 shares of the company’s stock valued at $279,970,000 after purchasing an additional 636,334 shares during the period. Finally, Norges Bank acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at about $273,276,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their target price 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. Raymond James Financial reiterated an “outperform” rating and set a $121.00 price target on shares of Principal Financial Group in a research report on Monday, August 17th. Evercore set a $108.00 price target on Principal Financial Group in a research note on Monday, April 27th. 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 report on Monday, July 13th. Finally, Weiss Ratings raised Principal Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $106.67.

Principal Financial Group Stock Up 1.0%

PFG stock opened at $111.89 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.28 and a quick ratio of 0.28. The company’s 50 day simple moving average is $111.70 and its 200-day simple moving average is $101.63. The firm has a market capitalization of $23.96 billion, a PE ratio of 15.89, a P/E/G ratio of 1.01 and a beta of 0.87. Principal Financial Group, Inc. has a 12 month low of $77.90 and a 12 month high of $116.61.

Principal Financial Group (NASDAQ:PFG) last released its quarterly earnings results on Monday, July 27th. The company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.17. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.11 billion. Principal Financial Group had a return on equity of 16.49% and a net margin of 9.93%.During the same period in the previous year, the firm posted $2.16 earnings per share. Equities analysts expect 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 announced 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 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, September 3rd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.82. Principal Financial Group’s dividend payout ratio is presently 46.59%.

Principal Financial Group Company 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.