Principal Financial Group, Inc. (NYSE:PFG) Shares Acquired by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. raised its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,575 shares of the company’s stock after acquiring an additional 145 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Principal Financial Group were worth $437,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Farther Finance Advisors LLC raised its holdings in shares of Principal Financial Group by 2.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 6,325 shares of the company’s stock worth $493,000 after purchasing an additional 135 shares in the last quarter. Ballentine Partners LLC lifted its position in shares of Principal Financial Group by 5.0% during the 2nd quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock valued at $228,000 after acquiring an additional 138 shares during the last quarter. Graypoint LLC boosted its stake in shares of Principal Financial Group by 5.6% during the 2nd quarter. Graypoint LLC now owns 2,654 shares of the company’s stock worth $208,000 after acquiring an additional 140 shares in the last quarter. City State Bank grew its holdings in shares of Principal Financial Group by 1.7% in the 1st quarter. City State Bank now owns 8,216 shares of the company’s stock worth $709,000 after acquiring an additional 141 shares during the last quarter. Finally, Jacobi Capital Management LLC raised its position in shares of Principal Financial Group by 3.1% during the first quarter. Jacobi Capital Management LLC now owns 5,301 shares of the company’s stock worth $458,000 after purchasing an additional 160 shares during the period. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Price Performance

Shares of PFG opened at $85.61 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $19.83 billion, a PE ratio of 16.34, a PEG ratio of 0.87 and a beta of 1.19. The firm’s 50 day moving average price is $80.23 and its 200 day moving average price is $80.99. Principal Financial Group, Inc. has a twelve month low of $66.21 and a twelve month high of $88.26.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results 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 net margin of 8.05% and a return on equity of 14.92%. The business had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the business posted $1.53 EPS. As a group, research analysts expect that Principal Financial Group, Inc. will post 7.31 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 5th will be given a $0.72 dividend. The ex-dividend date is Thursday, September 5th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.36%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.71. Principal Financial Group’s payout ratio is currently 54.96%.

Wall Street Analyst Weigh In

PFG has been the topic of several recent analyst reports. Bank of America boosted their price objective on Principal Financial Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. raised shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $88.00 to $96.00 in a research note on Tuesday, July 2nd. Raymond James raised shares of Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 target price on the stock in a research note on Tuesday, July 9th. Barclays initiated coverage on Principal Financial Group in a research report on Wednesday, September 4th. They issued an “underweight” rating and a $74.00 target price for the company. Finally, Royal Bank of Canada increased their price objective on Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Two equities research 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. Based on data from MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and a consensus price target of $85.50.

Principal Financial Group 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.