Atomi Financial Group Inc. Acquires Shares of 2,437 Principal Financial Group, Inc. (NYSE:PFG)

Atomi Financial Group Inc. bought a new position in Principal Financial Group, Inc. (NYSE:PFG) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 2,437 shares of the company’s stock, valued at approximately $209,000.

Several other hedge funds have also recently made changes to their positions in the business. V Square Quantitative Management LLC raised its position in Principal Financial Group by 25.2% during the fourth quarter. V Square Quantitative Management LLC now owns 5,357 shares of the company’s stock valued at $421,000 after purchasing an additional 1,079 shares during the period. Syon Capital LLC raised its holdings in Principal Financial Group by 36.2% during the 4th quarter. Syon Capital LLC now owns 5,487 shares of the company’s stock valued at $432,000 after buying an additional 1,457 shares during the period. Richardson Financial Services Inc. bought a new stake in Principal Financial Group in the fourth quarter worth $110,000. HighPoint Advisor Group LLC purchased a new position in Principal Financial Group during the fourth quarter worth $718,000. Finally, Nomura Holdings Inc. bought a new position in Principal Financial Group during the fourth quarter valued at $348,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Trading Up 2.0 %

Shares of NYSE:PFG opened at $89.20 on Monday. The company has a market capitalization of $20.91 billion, a PE ratio of 17.02, a P/E/G ratio of 0.92 and a beta of 1.19. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 12-month low of $66.21 and a 12-month high of $89.51. The business’s fifty day simple moving average is $81.07 and its 200-day simple moving average is $81.38.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). The firm had revenue of $4.31 billion during the quarter, compared to analysts’ expectations 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 firm earned $1.53 EPS. As a group, equities research analysts predict 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 was paid on Friday, September 27th. Shareholders of record on Thursday, September 5th were paid a dividend of $0.72 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.88 dividend on an annualized basis and a yield of 3.23%. Principal Financial Group’s dividend payout ratio is presently 54.96%.

Analyst Upgrades and Downgrades

PFG has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their price target on shares of Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday. Barclays increased their price target on Principal Financial Group from $74.00 to $75.00 and gave the stock an “underweight” rating in a report on Wednesday, October 9th. Royal Bank of Canada boosted their price objective on Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. JPMorgan Chase & Co. upgraded Principal Financial Group from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $88.00 to $96.00 in a research report on Tuesday, July 2nd. Finally, Bank of America lowered their target price on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $85.42.

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.