Valeo Financial Advisors LLC Purchases Shares of 2,533 Principal Financial Group, Inc. $PFG

Valeo Financial Advisors LLC purchased a new stake in Principal Financial Group, Inc. (NYSE:PFG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,533 shares of the company’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Victory Capital Management Inc. increased 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 buying an additional 3,296,608 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Principal Financial Group by 114.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,613,143 shares of the company’s stock valued at $220,471,000 after acquiring an additional 1,393,008 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Principal Financial Group by 1.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,468,728 shares of the company’s stock valued at $123,917,000 after purchasing an additional 20,221 shares during the period. Royal Bank of Canada boosted its holdings in Principal Financial Group by 1.7% in the 1st quarter. Royal Bank of Canada now owns 1,080,097 shares of the company’s stock valued at $91,128,000 after purchasing an additional 17,969 shares during the period. Finally, AustralianSuper Pty Ltd boosted its holdings in Principal Financial Group by 34.2% in the 1st quarter. AustralianSuper Pty Ltd now owns 893,246 shares of the company’s stock valued at $75,363,000 after purchasing an additional 227,836 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Trading Down 4.0%

NYSE PFG opened at $79.42 on Friday. The business’s 50-day moving average price is $80.37 and its two-hundred day moving average price is $78.69. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.97. The firm has a market capitalization of $17.69 billion, a PE ratio of 11.89, 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 (NYSE:PFG) last posted its quarterly earnings data on Monday, July 28th. The company reported $2.16 EPS for the quarter, topping 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 period last year, the company earned $1.63 EPS. On average, analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Thursday, September 4th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.9%. The ex-dividend date was Thursday, September 4th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.76. Principal Financial Group’s dividend payout ratio (DPR) is 62.78%.

Analysts Set New Price Targets

PFG has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on Principal Financial Group from $72.00 to $73.00 and gave the stock an “underweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods upped their price objective on shares of Principal Financial Group from $88.00 to $90.00 and gave the stock a “market perform” rating in a research report on Thursday. UBS Group upped their price objective on shares of Principal Financial Group from $85.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. Barclays boosted their target price on shares of Principal Financial Group from $80.00 to $83.00 and gave the company an “underweight” rating in a research report on Wednesday. Finally, Piper Sandler set a $94.00 price objective on shares of Principal Financial Group and gave the company an “overweight” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $88.60.

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.