Callan Family Office LLC Makes New $714,000 Investment in Principal Financial Group, Inc. $PFG

Callan Family Office LLC bought a new stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 6,624 shares of the company’s stock, valued at approximately $714,000.

Other large investors also recently made changes to their positions in the company. DV Equities LLC acquired a new stake in shares of Principal Financial Group during the fourth quarter worth $25,000. Hilton Head Capital Partners LLC bought a new position in Principal Financial Group during the fourth quarter worth about $26,000. Valley Wealth Managers Inc. bought a new position in Principal Financial Group during the first quarter worth about $27,000. MBM Wealth Consultants LLC acquired a new position in shares of Principal Financial Group during the 1st quarter worth about $28,000. Finally, Signature Equity Partners LLC grew its position in shares of Principal Financial Group by 5,733.3% during the 1st quarter. Signature Equity Partners LLC now owns 350 shares of the company’s stock worth $32,000 after buying an additional 344 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Principal Financial Group from $113.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Citigroup lowered Principal Financial Group from a “sell” rating to an “underperform” rating in a report on Wednesday, June 24th. Wells Fargo & Company decreased their target price on Principal Financial Group from $114.00 to $113.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Principal Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Finally, Jefferies Financial Group raised their price target on Principal Financial Group from $91.00 to $98.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Three investment 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 MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $106.67.

Principal Financial Group Stock Down 0.3%

Shares of PFG stock opened at $111.59 on Wednesday. Principal Financial Group, Inc. has a 12-month low of $77.90 and a 12-month high of $116.61. 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 fifty day moving average of $111.71 and a 200-day moving average of $101.74. The company has a market capitalization of $23.89 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 1.01 and a beta of 0.88.

Principal Financial Group (NASDAQ:PFG) last announced its 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 firm had revenue of $3.99 billion during the quarter, compared to analyst estimates 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 in the prior year, the business earned $2.16 EPS. As a group, equities research analysts predict that Principal Financial Group, Inc. will post 9.62 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.84 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.82. This represents a $3.36 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Thursday, September 3rd. Principal Financial Group’s payout ratio 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.