Principal Financial Group, Inc. $PFG Shares Acquired by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp increased its position in Principal Financial Group, Inc. (NYSE:PFG) by 3.0% in the second quarter, Holdings Channel reports. The firm owned 112,590 shares of the company’s stock after purchasing an additional 3,272 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in Principal Financial Group were worth $8,943,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PFG. Oliver Lagore Vanvalin Investment Group acquired a new position in Principal Financial Group in the second quarter worth about $25,000. American National Bank & Trust acquired a new position in Principal Financial Group in the second quarter worth about $28,000. von Borstel & Associates Inc. acquired a new position in Principal Financial Group in the first quarter worth about $32,000. Zions Bancorporation National Association UT bought a new position in Principal Financial Group in the first quarter worth about $34,000. Finally, GKV Capital Management Co. Inc. bought a new position in Principal Financial Group in the first quarter worth about $45,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PFG has been the topic of a number of recent research reports. Morgan Stanley raised their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Monday, August 18th. Piper Sandler raised their target price on shares of Principal Financial Group from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. Keefe, Bruyette & Woods cut their target price on shares of Principal Financial Group from $90.00 to $88.00 and set a “market perform” rating on the stock in a report on Monday, August 4th. Barclays raised their target price on shares of Principal Financial Group from $76.00 to $80.00 and gave the stock an “underweight” rating in a report on Monday, July 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Principal Financial Group from $92.00 to $101.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Principal Financial Group has a consensus rating of “Reduce” and a consensus price target of $86.90.

Principal Financial Group Stock Performance

PFG opened at $83.04 on Thursday. The business’s 50 day moving average is $79.81 and its 200-day moving average is $78.75. The stock has a market cap of $18.50 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $91.97.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.19. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same quarter in the previous year, the firm earned $1.63 EPS. On average, analysts predict 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 was paid on Friday, September 26th. Stockholders of record on Thursday, September 4th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.8%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Thursday, September 4th. Principal Financial Group’s dividend payout ratio is presently 62.78%.

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.