Principal Financial Group, Inc. $PFG Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 12.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,216,125 shares of the company’s stock after purchasing an additional 244,550 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.04% of Principal Financial Group worth $238,854,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PFG. Ancora Advisors LLC acquired a new stake in Principal Financial Group during the 2nd quarter valued at $27,000. DV Equities LLC acquired a new position in shares of Principal Financial Group in the fourth quarter worth $25,000. Hilton Head Capital Partners LLC acquired a new position in shares of Principal Financial Group in the fourth quarter worth $26,000. Valley Wealth Managers Inc. purchased a new stake in shares of Principal Financial Group in the first quarter valued at $27,000. Finally, MBM Wealth Consultants LLC purchased a new stake in shares of Principal Financial Group in the first quarter valued at $28,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PFG. Piper Sandler boosted their target price on shares of Principal Financial Group from $113.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Raymond James Financial reiterated an “outperform” rating and set a $121.00 price target on shares of Principal Financial Group in a report on Monday, August 17th. JPMorgan Chase & Co. boosted their price objective on shares of Principal Financial Group from $106.00 to $107.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Morgan Stanley upped 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 note on Monday, July 6th. Finally, Atlantic Securities set a $94.00 target price on shares of Principal Financial Group in a research report on Wednesday, July 15th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Principal Financial Group presently has a consensus rating of “Hold” and a consensus price target of $106.67.

Principal Financial Group Stock Down 1.1%

PFG opened at $110.16 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 stock has a market capitalization of $23.59 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 1.01 and a beta of 0.87. The business has a 50-day moving average of $111.81 and a two-hundred day moving average of $102.18. 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 announced its quarterly earnings data on Monday, July 27th. The company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.17. Principal Financial Group had a net margin of 9.93% and a return on equity of 16.49%. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same period in the prior year, the firm posted $2.16 EPS. On average, research analysts expect that Principal Financial Group, Inc. will post 9.62 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 3rd will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 3.1%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Thursday, September 3rd. Principal Financial Group’s dividend payout ratio (DPR) is currently 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.