Lecap Asset Management Ltd. Lowers Stake in Principal Financial Group, Inc. $PFG

Lecap Asset Management Ltd. reduced its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 16.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 13,795 shares of the company’s stock after selling 2,784 shares during the period. Lecap Asset Management Ltd.’s holdings in Principal Financial Group were worth $1,096,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Principal Financial Group in the second quarter valued at about $25,000. American National Bank & Trust purchased a new stake in shares of Principal Financial Group in the second quarter valued at about $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Principal Financial Group in the first quarter valued at about $32,000. Zions Bancorporation National Association UT purchased a new stake in shares of Principal Financial Group in the first quarter valued at about $34,000. Finally, GKV Capital Management Co. Inc. purchased a new stake in shares of Principal Financial Group in the first quarter valued at about $45,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

NYSE:PFG opened at $83.04 on Thursday. The firm has a 50 day simple moving average of $79.81 and a 200-day simple moving average of $78.75. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The firm has a market cap of $18.50 billion, a PE ratio of 12.43, a P/E/G ratio of 0.76 and a beta of 1.03. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $91.97.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Monday, July 28th. The company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.97 by $0.19. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter last year, the business earned $1.63 earnings per share. On average, equities analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Thursday, September 4th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.8%. This is a positive change 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 (DPR) is currently 62.78%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PFG. Barclays boosted their price objective 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. UBS Group boosted their price objective on shares of Principal Financial Group from $85.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, July 29th. Piper Sandler boosted their price objective 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. Wells Fargo & Company decreased their price objective on shares of Principal Financial Group from $73.00 to $72.00 and set an “underweight” rating on the stock in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. boosted their price objective 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 research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Principal Financial Group presently has a consensus rating of “Reduce” and a consensus price target of $86.90.

About Principal Financial Group

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.