Livforsakringsbolaget Skandia Omsesidigt Increases Stake in Principal Financial Group, Inc. (NYSE:PFG)

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Principal Financial Group, Inc. (NYSE:PFG) by 434.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,182 shares of the company’s stock after buying an additional 3,400 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Principal Financial Group were worth $359,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Research Global Investors increased its holdings in Principal Financial Group by 2.4% in the 1st quarter. Capital Research Global Investors now owns 6,602,298 shares of the company’s stock valued at $569,844,000 after acquiring an additional 152,774 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Principal Financial Group by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,905,124 shares of the company’s stock worth $306,393,000 after purchasing an additional 39,854 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Principal Financial Group by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 1,903,138 shares of the company’s stock worth $149,301,000 after buying an additional 53,516 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Principal Financial Group by 6.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 692,694 shares of the company’s stock valued at $59,786,000 after buying an additional 43,190 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Principal Financial Group by 0.5% during the second quarter. Rhumbline Advisers now owns 478,129 shares of the company’s stock valued at $37,509,000 after buying an additional 2,487 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Citigroup upped their price objective on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. raised shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and upped their price target for the company from $88.00 to $96.00 in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods dropped their price objective on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Wells Fargo & Company upped their target price on shares of Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Barclays increased their price target on shares of Principal Financial Group from $74.00 to $75.00 and gave the company an “underweight” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $85.42.

Principal Financial Group Stock Up 2.0 %

Shares of NYSE:PFG opened at $89.20 on Monday. The firm has a market capitalization of $20.91 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 0.92 and a beta of 1.19. The business has a 50 day simple moving average of $81.07 and a two-hundred day simple moving average of $81.38. Principal Financial Group, Inc. has a 1 year low of $66.21 and a 1 year high of $89.51. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.29.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results 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). 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 for the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the prior year, the business posted $1.53 earnings per share. On average, equities analysts predict that Principal Financial Group, Inc. will post 7.31 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 5th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.23%. The ex-dividend date was Thursday, September 5th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.71. Principal Financial Group’s dividend payout ratio (DPR) is currently 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.