Xponance Inc. Has $3.35 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Xponance Inc. lifted its position in Principal Financial Group, Inc. (NYSE:PFG) by 6.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,744 shares of the company’s stock after purchasing an additional 2,578 shares during the quarter. Xponance Inc.’s holdings in Principal Financial Group were worth $3,353,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinebridge Investments L.P. raised its position in Principal Financial Group by 2,594.0% in the fourth quarter. Pinebridge Investments L.P. now owns 575,986 shares of the company’s stock worth $45,313,000 after purchasing an additional 554,606 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Principal Financial Group by 403.6% in the 2nd quarter. Acadian Asset Management LLC now owns 354,447 shares of the company’s stock worth $27,800,000 after buying an additional 284,067 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Principal Financial Group during the 2nd quarter worth approximately $19,698,000. AMF Tjanstepension AB grew its position in Principal Financial Group by 282.0% in the first quarter. AMF Tjanstepension AB now owns 308,308 shares of the company’s stock valued at $26,633,000 after acquiring an additional 227,608 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in Principal Financial Group by 165.2% during the first quarter. BNP Paribas Financial Markets now owns 337,877 shares of the company’s stock worth $29,162,000 after acquiring an additional 210,476 shares in the last quarter. 75.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PFG has been the topic of several recent analyst reports. Citigroup boosted 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. Morgan Stanley decreased their price objective on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. 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 for the company in a research note on Monday, July 29th. Bank of America increased their price target on Principal Financial Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Finally, Barclays started coverage on Principal Financial Group in a research report on Wednesday, September 4th. They issued an “underweight” rating and a $74.00 price objective for the company. Two research 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $85.50.

Principal Financial Group Stock Down 0.4 %

Shares of PFG opened at $84.92 on Thursday. The business’s fifty day moving average price is $80.20 and its two-hundred day moving average price is $81.07. The firm has a market capitalization of $19.67 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 0.90 and a beta of 1.19. Principal Financial Group, Inc. has a 52 week low of $66.21 and a 52 week high of $88.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.29 and a current ratio of 0.29.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.87 by ($0.24). The firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $3.78 billion. Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. During the same quarter in the prior year, the business earned $1.53 EPS. On average, analysts predict that Principal Financial Group, Inc. will post 7.31 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 5th will be paid a dividend of $0.72 per share. 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. The ex-dividend date of this dividend is Thursday, September 5th. Principal Financial Group’s payout ratio is 54.96%.

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.