XTX Topco Ltd Acquires Shares of 8,943 Principal Financial Group, Inc. (NYSE:PFG)

XTX Topco Ltd acquired a new position in Principal Financial Group, Inc. (NYSE:PFG) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,943 shares of the company’s stock, valued at approximately $702,000.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in shares of Principal Financial Group by 2.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 6,325 shares of the company’s stock valued at $493,000 after buying an additional 135 shares during the last quarter. Ballentine Partners LLC lifted its holdings in Principal Financial Group by 5.0% in the second 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 period. Graypoint LLC boosted its position in Principal Financial Group by 5.6% in the 2nd quarter. Graypoint LLC now owns 2,654 shares of the company’s stock worth $208,000 after purchasing an additional 140 shares in the last quarter. City State Bank grew its stake in shares of Principal Financial Group by 1.7% during the 1st quarter. City State Bank now owns 8,216 shares of the company’s stock worth $709,000 after purchasing an additional 141 shares during the period. Finally, Jacobi Capital Management LLC increased its holdings in shares of Principal Financial Group by 3.1% during the 1st quarter. Jacobi Capital Management LLC now owns 5,301 shares of the company’s stock valued at $458,000 after purchasing an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Citigroup raised their target price on Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada upped their price target 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. JPMorgan Chase & Co. raised Principal Financial Group from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $88.00 to $96.00 in a report on Tuesday, July 2nd. Finally, Wells Fargo & Company reduced their target price on Principal Financial Group from $87.00 to $85.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Principal Financial Group has an average rating of “Hold” and a consensus target price of $85.50.

Principal Financial Group Trading Down 0.0 %

Shares of PFG stock opened at $85.61 on Monday. Principal Financial Group, Inc. has a fifty-two week low of $66.21 and a fifty-two week high of $88.26. 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 stock’s fifty day moving average is $80.23 and its two-hundred day moving average is $80.99. The firm has a market capitalization of $19.83 billion, a P/E ratio of 16.34, a PEG ratio of 0.87 and a beta of 1.19.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the prior year, the business posted $1.53 earnings per share. Research analysts expect that Principal Financial Group, Inc. will post 7.31 earnings per share 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. Stockholders of record on Thursday, September 5th will be given a $0.72 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.36%. Principal Financial Group’s dividend payout ratio is 54.96%.

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.