Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 3.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,651 shares of the company’s stock after acquiring an additional 3,071 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Principal Financial Group were worth $7,661,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PFG. EdgeRock Capital LLC acquired a new stake in shares of Principal Financial Group during the second quarter worth $26,000. Spire Wealth Management lifted its stake in shares of Principal Financial Group by 152.0% during the fourth quarter. Spire Wealth Management now owns 373 shares of the company’s stock worth $29,000 after buying an additional 225 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in shares of Principal Financial Group during the fourth quarter worth $33,000. Family Firm Inc. acquired a new stake in shares of Principal Financial Group during the second quarter worth $33,000. Finally, Riverview Trust Co acquired a new stake in shares of Principal Financial Group during the first quarter worth $34,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

PFG has been the subject of a number of research 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 report on Tuesday, July 23rd. Bank of America boosted their target price on shares of Principal Financial Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Jefferies Financial Group boosted their target price on shares of Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Morgan Stanley decreased their target price on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Finally, Raymond James upgraded shares of Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 target price for the company in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $85.58.

Principal Financial Group Price Performance

Shares of PFG stock traded down $0.03 on Friday, reaching $80.67. 129,774 shares of the company were exchanged, compared to its average volume of 1,123,336. The company has a market cap of $18.91 billion, a price-to-earnings ratio of 15.36, a P/E/G ratio of 0.82 and a beta of 1.21. The business has a 50-day moving average price of $79.82 and a 200 day moving average price of $80.84. 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, Inc. has a 1 year low of $66.21 and a 1 year high of $88.26.

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, July 25th. The company reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). The company had revenue of $4.31 billion for 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 prior year, the firm earned $1.53 EPS. Equities research analysts forecast that Principal Financial Group, Inc. will post 7.31 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Thursday, September 5th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.71. Principal Financial Group’s dividend payout ratio 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.