Lake Street Private Wealth LLC Buys 738 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Lake Street Private Wealth LLC lifted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 24.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,713 shares of the company’s stock after purchasing an additional 738 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Principal Financial Group were worth $320,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PFG. Tower Research Capital LLC TRC grew its holdings in shares of Principal Financial Group by 329.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,986 shares of the company’s stock valued at $792,000 after purchasing an additional 8,429 shares during the last quarter. Bank of Nova Scotia boosted its position in Principal Financial Group by 12.3% during the 3rd quarter. Bank of Nova Scotia now owns 22,563 shares of the company’s stock worth $1,626,000 after buying an additional 2,468 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in Principal Financial Group during the 3rd quarter worth approximately $3,290,000. Royal London Asset Management Ltd. boosted its position in Principal Financial Group by 11.2% during the 3rd quarter. Royal London Asset Management Ltd. now owns 172,994 shares of the company’s stock worth $12,464,000 after buying an additional 17,376 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its position in Principal Financial Group by 14.0% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 237,931 shares of the company’s stock worth $17,148,000 after buying an additional 29,181 shares during the period. 75.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PFG. Wells Fargo & Company cut their target price on shares of Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Monday, April 29th. Morgan Stanley lifted their target price on shares of Principal Financial Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods lifted their target price on shares of Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Jefferies Financial Group lifted their target price on shares of Principal Financial Group from $74.00 to $78.00 and gave the stock a “hold” rating in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. upgraded shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $88.00 to $96.00 in a research report on Tuesday. One research analyst has rated the stock with a sell rating and ten have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $82.60.

Principal Financial Group Trading Down 0.1 %

NYSE:PFG opened at $79.16 on Friday. The firm’s fifty day moving average is $80.76 and its 200-day moving average is $80.56. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.29 and a current ratio of 0.29. Principal Financial Group, Inc. has a 52 week low of $66.21 and a 52 week high of $86.79. The firm has a market cap of $18.55 billion, a P/E ratio of 15.11, a P/E/G ratio of 0.86 and a beta of 1.21.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, April 25th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.09). The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.68 billion. Principal Financial Group had a return on equity of 15.06% and a net margin of 8.70%. During the same period in the prior year, the company earned $1.48 earnings per share. Equities analysts expect that Principal Financial Group, Inc. will post 7.45 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Monday, June 3rd were paid a dividend of $0.71 per share. The ex-dividend date was Monday, June 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.69. This represents a $2.84 annualized dividend and a yield of 3.59%. Principal Financial Group’s dividend payout ratio is currently 54.20%.

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.