OFI Invest Asset Management Makes New $97,000 Investment in Principal Financial Group, Inc. $PFG

OFI Invest Asset Management bought a new position in Principal Financial Group, Inc. (NYSE:PFGFree Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,222 shares of the company’s stock, valued at approximately $97,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Geneos Wealth Management Inc. boosted its stake in shares of Principal Financial Group by 7.6% during the first quarter. Geneos Wealth Management Inc. now owns 1,889 shares of the company’s stock valued at $159,000 after purchasing an additional 134 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in shares of Principal Financial Group by 0.5% during the first quarter. Federation des caisses Desjardins du Quebec now owns 27,536 shares of the company’s stock valued at $2,323,000 after purchasing an additional 139 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in shares of Principal Financial Group by 3.9% during the first quarter. Stratos Wealth Partners LTD. now owns 3,826 shares of the company’s stock valued at $323,000 after purchasing an additional 144 shares in the last quarter. Raiffeisen Bank International AG boosted its stake in shares of Principal Financial Group by 12.6% during the first quarter. Raiffeisen Bank International AG now owns 1,380 shares of the company’s stock valued at $115,000 after purchasing an additional 154 shares in the last quarter. Finally, Gentry Private Wealth LLC boosted its stake in shares of Principal Financial Group by 2.2% during the second quarter. Gentry Private Wealth LLC now owns 7,099 shares of the company’s stock valued at $564,000 after purchasing an additional 156 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Trading Up 0.3%

Shares of Principal Financial Group stock opened at $79.67 on Tuesday. 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 fifty day moving average price of $80.45 and a 200 day moving average price of $78.57. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $91.97. The stock has a market cap of $17.75 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03.

Principal Financial Group (NYSE:PFGGet Free Report) last issued its earnings results on Monday, July 28th. The company reported $2.16 earnings per share (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 in the previous year, the firm earned $1.63 earnings per share. Equities research 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 announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Thursday, September 4th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.9%. 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 62.78%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Principal Financial Group from $72.00 to $73.00 and gave the company an “underweight” rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of Principal Financial Group from $92.00 to $101.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Barclays increased their price objective on shares of Principal Financial Group from $80.00 to $83.00 and gave the company an “underweight” rating in a research note on Wednesday, October 8th. UBS Group increased their target price on shares of Principal Financial Group from $85.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Principal Financial Group from $88.00 to $90.00 and gave the company a “market perform” rating in a research report on Thursday, October 9th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $88.60.

Get Our Latest Stock Report on PFG

Principal Financial Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Principal Financial Group (NYSE:PFG)

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