Daymark Wealth Partners LLC Takes $242,000 Position in Principal Financial Group, Inc. (NYSE:PFG)

Daymark Wealth Partners LLC bought a new stake in Principal Financial Group, Inc. (NYSE:PFG) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,083 shares of the company’s stock, valued at approximately $242,000.

A number of other large investors have also added to or reduced their stakes in PFG. Farther Finance Advisors LLC lifted its holdings in 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 buying an additional 135 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Principal Financial Group by 5.0% during the second quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock worth $228,000 after acquiring an additional 138 shares during the last quarter. Graypoint LLC lifted its stake in shares of Principal Financial Group by 5.6% in the second 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 boosted its holdings in Principal Financial Group by 1.7% in the first quarter. City State Bank now owns 8,216 shares of the company’s stock valued at $709,000 after purchasing an additional 141 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Principal Financial Group by 18.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 930 shares of the company’s stock valued at $76,000 after purchasing an additional 143 shares in the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Stock Up 0.1 %

NYSE:PFG opened at $86.09 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average of $80.19 and a 200-day moving average of $81.18. The firm has a market capitalization of $19.94 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 0.90 and a beta of 1.19. Principal Financial Group, Inc. has a 52 week low of $66.21 and a 52 week high of $88.26.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). The company had revenue of $4.31 billion for 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 quarter in the previous year, the company earned $1.53 earnings per share. Analysts predict that Principal Financial Group, Inc. will post 7.31 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 5th were given a $0.72 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a yield of 3.35%. Principal Financial Group’s dividend payout ratio (DPR) is currently 54.96%.

Analysts Set New Price Targets

Several research firms have recently commented on PFG. Citigroup increased their target price on Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a research note on Tuesday, July 23rd. Morgan Stanley reduced their price objective on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Bank of America boosted their target price on shares of Principal Financial Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Barclays initiated coverage on shares of 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. Finally, Raymond James raised Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 price objective for the company in a report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $85.50.

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.