AlphaStar Capital Management LLC Invests $334,000 in Principal Financial Group, Inc. $PFG

AlphaStar Capital Management LLC acquired a new position in Principal Financial Group, Inc. (NYSE:PFG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,210 shares of the company’s stock, valued at approximately $334,000.

A number of other institutional investors have also recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC acquired a new stake in Principal Financial Group during the 2nd quarter worth about $3,269,000. Blackhawk Capital Partners LLC. acquired a new stake in Principal Financial Group during the 1st quarter worth about $281,000. Public Employees Retirement System of Ohio lifted its position in Principal Financial Group by 3.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 72,348 shares of the company’s stock worth $5,747,000 after acquiring an additional 2,469 shares during the period. Victory Capital Management Inc. lifted its position in Principal Financial Group by 802.2% during the 1st quarter. Victory Capital Management Inc. now owns 3,707,534 shares of the company’s stock worth $312,805,000 after acquiring an additional 3,296,608 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Principal Financial Group by 12.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 397,103 shares of the company’s stock worth $33,504,000 after acquiring an additional 43,257 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

NYSE PFG opened at $84.04 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $90.31. The stock has a 50-day simple moving average of $81.24 and a two-hundred day simple moving average of $79.01. The firm has a market capitalization of $18.72 billion, a P/E ratio of 12.58, a PEG ratio of 0.76 and a beta of 1.03.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Monday, October 27th. The company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.12. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same period last year, the firm posted $2.05 earnings per share. On average, equities analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Wednesday, December 3rd will be paid a $0.79 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $3.16 annualized dividend and a dividend yield of 3.8%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.78. Principal Financial Group’s dividend payout ratio (DPR) is presently 46.00%.

Wall Street Analyst Weigh In

PFG has been the subject of a number of research reports. Barclays lifted their price target on Principal Financial Group from $80.00 to $83.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 8th. Wells Fargo & Company lifted their price target on Principal Financial Group from $73.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday. Evercore ISI lifted their price target on Principal Financial Group from $92.00 to $94.00 and gave the stock an “in-line” rating in a research report on Thursday, October 9th. Piper Sandler set a $94.00 price objective on Principal Financial Group and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Finally, UBS Group lifted their price objective on Principal Financial Group from $85.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, July 29th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $88.90.

Principal Financial Group Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.