Corient Private Wealth LP Makes New Investment in Principal Financial Group, Inc. $PFG

Corient Private Wealth LP acquired a new stake in Principal Financial Group, Inc. (NASDAQ:PFG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 41,534 shares of the company’s stock, valued at approximately $4,476,000.

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

Wall Street Analyst Weigh In

Several research firms have commented on PFG. Barclays boosted their price target on shares of Principal Financial Group from $87.00 to $92.00 and gave the stock an “underweight” rating in a report on Tuesday, July 7th. Raymond James Financial reiterated an “outperform” rating and set a $121.00 target price on shares of Principal Financial Group in a research note on Monday, August 17th. Keefe, Bruyette & Woods increased their target price on Principal Financial Group from $102.00 to $112.00 and gave the company a “market perform” rating in a report on Monday, July 13th. Weiss Ratings raised Principal Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Finally, Morgan Stanley raised their target price on Principal Financial Group from $107.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $106.67.

Principal Financial Group Price Performance

Shares of NASDAQ:PFG opened at $110.16 on Tuesday. The company’s fifty day moving average price is $111.81 and its 200 day moving average price is $102.18. Principal Financial Group, Inc. has a 12 month low of $77.90 and a 12 month high of $116.61. 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 firm has a market capitalization of $23.59 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.01 and a beta of 0.87.

Principal Financial Group (NASDAQ:PFG) last issued its quarterly earnings data on Monday, July 27th. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.17. Principal Financial Group had a return on equity of 16.49% and a net margin of 9.93%.The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter last year, the company posted $2.16 earnings per share. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 3rd will be paid a dividend of $0.84 per share. The ex-dividend date is Thursday, September 3rd. This represents a $3.36 dividend on an annualized basis and a yield of 3.1%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.82. Principal Financial Group’s dividend payout ratio (DPR) is 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.