PEAK6 LLC Buys New Position in Principal Financial Group, Inc. $PFG

PEAK6 LLC acquired a new stake in Principal Financial Group, Inc. (NASDAQ:PFG) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 31,529 shares of the company’s stock, valued at approximately $3,398,000.

Several other large investors also recently modified their holdings of PFG. DV Equities LLC bought a new stake in shares of Principal Financial Group in the 4th quarter valued at $25,000. Hilton Head Capital Partners LLC bought a new position in Principal Financial Group during the fourth quarter worth $26,000. Valley Wealth Managers Inc. bought a new position in Principal Financial Group during the first quarter worth $27,000. MBM Wealth Consultants LLC acquired a new stake in Principal Financial Group in the first quarter worth $28,000. Finally, Quest 10 Wealth Builders Inc. grew its holdings in Principal Financial Group by 343.6% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company’s stock worth $30,000 after purchasing an additional 268 shares during the period. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

NASDAQ PFG opened at $110.75 on Monday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $111.67 and a 200 day simple moving average of $101.51. Principal Financial Group, Inc. has a 12 month low of $77.90 and a 12 month high of $116.61. The firm has a market capitalization of $23.71 billion, a P/E ratio of 15.73, a PEG ratio of 1.01 and a beta of 0.87.

Principal Financial Group (NASDAQ:PFG) last posted its earnings results on Monday, July 27th. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.17. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.11 billion. Principal Financial Group had a net margin of 9.93% and a return on equity of 16.49%. During the same quarter in the prior year, the business posted $2.16 EPS. On average, analysts predict that Principal Financial Group, Inc. will post 9.57 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 3rd will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, September 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.82. Principal Financial Group’s payout ratio is currently 46.59%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PFG shares. Jefferies Financial Group upped their price target on Principal Financial Group from $91.00 to $98.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Morgan Stanley raised their price objective on Principal Financial Group from $107.00 to $112.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. boosted their price objective on Principal Financial Group from $106.00 to $107.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods upped their target price on Principal Financial Group from $102.00 to $112.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. Finally, Piper Sandler lifted their price target on shares of Principal Financial Group from $113.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $106.67.

About Principal Financial Group

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.