MCF Advisors LLC Boosts Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

MCF Advisors LLC increased its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 55.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 613 shares of the company’s stock after buying an additional 219 shares during the period. MCF Advisors LLC’s holdings in Principal Financial Group were worth $48,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of PFG. Capital Research Global Investors grew its stake in Principal Financial Group by 2.4% during the 1st quarter. Capital Research Global Investors now owns 6,602,298 shares of the company’s stock worth $569,844,000 after buying an additional 152,774 shares during the last quarter. Norges Bank acquired a new position in shares of Principal Financial Group during the fourth quarter valued at about $253,990,000. First Trust Advisors LP increased its holdings in shares of Principal Financial Group by 5.5% during the fourth quarter. First Trust Advisors LP now owns 2,783,578 shares of the company’s stock valued at $218,984,000 after acquiring an additional 144,262 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Principal Financial Group by 10.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,157,712 shares of the company’s stock valued at $169,747,000 after purchasing an additional 200,056 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Principal Financial Group by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,903,138 shares of the company’s stock worth $149,301,000 after purchasing an additional 53,516 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

PFG opened at $77.53 on Friday. The stock has a market cap of $18.17 billion, a P/E ratio of 14.80, a P/E/G ratio of 0.86 and a beta of 1.19. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a fifty day moving average price of $79.91 and a 200 day moving average price of $80.87. Principal Financial Group, Inc. has a 1 year low of $66.21 and a 1 year high of $88.26.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the company posted $1.53 EPS. Equities research analysts anticipate that Principal Financial Group, Inc. will post 7.31 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 5th will be issued a $0.72 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a yield of 3.71%. The ex-dividend date is Thursday, September 5th. Principal Financial Group’s dividend payout ratio (DPR) is presently 54.96%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. Barclays started coverage on Principal Financial Group in a research note on Wednesday. They issued an “underweight” rating and a $74.00 target price for the company. Jefferies Financial Group increased their price objective on Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Royal Bank of Canada lifted their target price on Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Finally, Bank of America increased their price target on shares of Principal Financial Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $85.50.

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.