AMF Tjanstepension AB Raises Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

AMF Tjanstepension AB lifted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 28.7% during the third quarter, HoldingsChannel.com reports. The fund owned 290,723 shares of the company’s stock after buying an additional 64,915 shares during the quarter. AMF Tjanstepension AB’s holdings in Principal Financial Group were worth $24,997,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Principal Financial Group during the second quarter valued at approximately $8,237,000. Sanctuary Advisors LLC purchased a new position in Principal Financial Group during the second quarter valued at approximately $1,187,000. Cetera Investment Advisers increased its holdings in Principal Financial Group by 6.9% during the second quarter. Cetera Investment Advisers now owns 57,293 shares of the company’s stock valued at $4,495,000 after buying an additional 3,714 shares during the period. Heartland Bank & Trust Co increased its holdings in Principal Financial Group by 4.4% during the second quarter. Heartland Bank & Trust Co now owns 5,496 shares of the company’s stock valued at $431,000 after buying an additional 234 shares during the period. Finally, Quarry LP purchased a new position in Principal Financial Group during the second quarter valued at approximately $91,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Trading Down 0.1 %

NYSE:PFG opened at $85.08 on Thursday. Principal Financial Group, Inc. has a 12 month low of $66.21 and a 12 month high of $88.26. The firm has a fifty day simple moving average of $80.23 and a 200-day simple moving average of $81.27. 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 company has a market capitalization of $19.70 billion, a P/E ratio of 16.24, a PEG ratio of 0.91 and a beta of 1.19.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.63 EPS 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 company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the firm posted $1.53 earnings per share. On average, 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 business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Thursday, September 5th were paid a dividend of $0.72 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a dividend yield of 3.39%. The ex-dividend date was Thursday, September 5th. Principal Financial Group’s payout ratio is presently 54.96%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PFG. Royal Bank of Canada lifted their price objective on shares of Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods cut their price objective 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. Barclays began coverage on shares of Principal Financial Group in a report on Wednesday, September 4th. They set an “underweight” rating and a $74.00 price objective on the stock. Citigroup raised their target price on shares of Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a research note on Tuesday, July 23rd. Finally, Bank of America raised their target price on shares of Principal Financial Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. 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 stock. According to data from MarketBeat.com, Principal Financial Group presently has a consensus rating of “Hold” and an average target price 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.