Impact Partnership Wealth LLC Buys Shares of 6,144 Principal Financial Group, Inc. (NYSE:PFG)

Impact Partnership Wealth LLC purchased a new position in Principal Financial Group, Inc. (NYSE:PFG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,144 shares of the company’s stock, valued at approximately $482,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in PFG. Victory Capital Management Inc. raised its position in Principal Financial Group by 9.3% during the fourth quarter. Victory Capital Management Inc. now owns 326,188 shares of the company’s stock valued at $25,661,000 after purchasing an additional 27,887 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Principal Financial Group by 1,072.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 4,267 shares of the company’s stock worth $336,000 after buying an additional 3,903 shares during the last quarter. National Bank of Canada FI boosted its stake in Principal Financial Group by 5.9% in the fourth quarter. National Bank of Canada FI now owns 72,492 shares of the company’s stock worth $5,734,000 after buying an additional 4,035 shares in the last quarter. Spire Wealth Management grew its position in Principal Financial Group by 152.0% during the fourth quarter. Spire Wealth Management now owns 373 shares of the company’s stock valued at $29,000 after acquiring an additional 225 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its stake in shares of Principal Financial Group by 21.6% during the fourth quarter. Apollon Wealth Management LLC now owns 5,034 shares of the company’s stock worth $396,000 after acquiring an additional 894 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Down 1.6 %

Shares of NYSE:PFG traded down $1.31 on Thursday, hitting $79.83. The company had a trading volume of 50,412 shares, compared to its average volume of 1,119,737. The firm’s 50-day simple moving average is $79.92 and its two-hundred day simple moving average is $80.90. The firm has a market capitalization of $18.71 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 0.86 and a beta of 1.19. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 1 year low of $66.21 and a 1 year high of $88.26.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.63 EPS for the quarter, missing the consensus estimate of $1.87 by ($0.24). The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. During the same quarter last year, the business earned $1.53 earnings per share. Equities analysts anticipate that Principal Financial Group, Inc. will post 7.31 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 27th. Investors of record on Thursday, September 5th will be given a dividend of $0.72 per share. The ex-dividend date is Thursday, September 5th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a dividend yield of 3.61%. Principal Financial Group’s payout ratio is currently 54.96%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PFG shares. Bank of America lifted their target price on shares of Principal Financial Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Citigroup increased their target price on Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a report on Tuesday, July 23rd. Royal Bank of Canada lifted their price target on Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods lowered their price objective on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. Finally, Raymond James upgraded shares of Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 target price on the stock in a report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Principal Financial Group has a consensus rating of “Hold” and an average price target of $85.50.

Principal Financial Group Company 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.