7,374 Shares in Principal Financial Group, Inc. (NYSE:PFG) Bought by Scientech Research LLC

Scientech Research LLC acquired a new position in Principal Financial Group, Inc. (NYSE:PFG) during the second quarter, Holdings Channel reports. The firm acquired 7,374 shares of the company’s stock, valued at approximately $578,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EdgeRock Capital LLC purchased a new stake in shares of Principal Financial Group in the second quarter worth $26,000. Strategic Financial Concepts LLC purchased a new stake in Principal Financial Group during the second quarter valued at about $32,000. Newbridge Financial Services Group Inc. purchased a new stake in Principal Financial Group during the fourth quarter valued at about $33,000. Family Firm Inc. purchased a new stake in Principal Financial Group during the second quarter valued at about $33,000. Finally, Riverview Trust Co purchased a new stake in Principal Financial Group during the first quarter valued at about $34,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Up 0.1 %

NYSE PFG opened at $86.09 on Friday. 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 stock has a market capitalization of $19.94 billion, a PE ratio of 16.43, a PEG ratio of 0.90 and a beta of 1.19. Principal Financial Group, Inc. has a 1 year low of $66.21 and a 1 year high of $88.26. The business’s 50-day moving average is $80.19 and its 200 day moving average is $81.18.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.87 by ($0.24). The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $3.78 billion. Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. During the same period in the previous year, the business earned $1.53 earnings per share. Sell-side analysts forecast 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 announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 5th were paid a $0.72 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a dividend yield of 3.35%. Principal Financial Group’s dividend payout ratio (DPR) is presently 54.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Barclays assumed coverage on Principal Financial Group in a research report on Wednesday, September 4th. They set an “underweight” rating and a $74.00 price target on the stock. Raymond James upgraded Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 price target on the stock in a research report on Tuesday, July 9th. Bank of America lifted 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. Morgan Stanley decreased their price objective on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Finally, Jefferies Financial Group lifted their price objective on Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Two investment 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 stock. According to MarketBeat, Principal Financial Group currently has an average rating of “Hold” and an average 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.