Caprock Group LLC Purchases 1,051 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Caprock Group LLC boosted its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 20.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,223 shares of the company’s stock after buying an additional 1,051 shares during the quarter. Caprock Group LLC’s holdings in Principal Financial Group were worth $488,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new position in shares of Principal Financial Group in the second quarter valued at about $26,000. Spire Wealth Management increased its holdings in Principal Financial Group by 152.0% during the 4th quarter. Spire Wealth Management now owns 373 shares of the company’s stock valued at $29,000 after purchasing an additional 225 shares during the period. Strategic Financial Concepts LLC bought a new position in Principal Financial Group during the 2nd quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. bought a new position in Principal Financial Group during the 4th quarter valued at approximately $33,000. Finally, Family Firm Inc. purchased a new stake in Principal Financial Group in the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of PFG opened at $78.98 on Thursday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The stock has a market cap of $18.51 billion, a P/E ratio of 15.07, a P/E/G ratio of 0.82 and a beta of 1.20. The business’s 50 day moving average price is $79.93 and its 200-day moving average price is $80.86. 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 announced 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). Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. The company had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the previous year, the firm posted $1.53 EPS. Equities research analysts anticipate that Principal Financial Group, Inc. will post 7.31 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 5th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.65%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, September 5th. Principal Financial Group’s dividend payout ratio is 54.96%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PFG. JPMorgan Chase & Co. upgraded Principal Financial Group from an “underweight” rating to a “neutral” rating and upped their target price for the company from $88.00 to $96.00 in a report on Tuesday, July 2nd. Barclays began coverage on shares of Principal Financial Group in a report on Wednesday, September 4th. They issued an “underweight” rating and a $74.00 price objective for the company. Wells Fargo & Company cut their target price on shares of Principal Financial Group from $87.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Morgan Stanley decreased their price target on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Finally, Royal Bank of Canada lifted their price objective on Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Principal Financial Group has a consensus rating of “Hold” and a consensus price target 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.