Ensign Peak Advisors Inc Has $7.48 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Ensign Peak Advisors Inc grew its stake in Principal Financial Group, Inc. (NYSE:PFG) by 7.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,327 shares of the company’s stock after purchasing an additional 6,360 shares during the period. Ensign Peak Advisors Inc’s holdings in Principal Financial Group were worth $7,478,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EdgeRock Capital LLC acquired a new stake in Principal Financial Group during the second quarter worth about $26,000. Riverview Trust Co acquired a new stake in shares of Principal Financial Group during the 1st quarter worth approximately $34,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Principal Financial Group during the fourth quarter valued at approximately $33,000. Family Firm Inc. acquired a new position in shares of Principal Financial Group in the second quarter valued at $33,000. Finally, Salomon & Ludwin LLC lifted its position in Principal Financial Group by 319.3% in the first quarter. Salomon & Ludwin LLC now owns 499 shares of the company’s stock worth $43,000 after purchasing an additional 380 shares during the period. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Down 0.4 %

PFG opened at $84.92 on Thursday. Principal Financial Group, Inc. has a 1-year low of $66.21 and a 1-year high of $88.26. The stock has a market capitalization of $19.67 billion, a PE ratio of 16.21, a PEG ratio of 0.90 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. The firm has a 50-day moving average price of $80.20 and a two-hundred day moving average price of $81.07.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.63 earnings per share 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 during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the business earned $1.53 EPS. As a group, equities 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 announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.72 per share. The ex-dividend date is Thursday, September 5th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.39%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.71. Principal Financial Group’s payout ratio is presently 54.96%.

Analyst Ratings Changes

Several equities research analysts have issued reports on PFG shares. JPMorgan Chase & Co. raised shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $88.00 to $96.00 in a report on Tuesday, July 2nd. Citigroup increased their price target on shares of Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a research report on Tuesday, July 23rd. Morgan Stanley decreased their price objective on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Bank of America increased their target price on Principal Financial Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods lowered their price target on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. Two investment 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 company. According to MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and an average 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.