Pinion Investment Advisors LLC Has $690,000 Stake in Principal Financial Group, Inc. (NYSE:PFG)

Pinion Investment Advisors LLC increased its stake in Principal Financial Group, Inc. (NYSE:PFG) by 6.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,790 shares of the company’s stock after acquiring an additional 569 shares during the quarter. Pinion Investment Advisors LLC’s holdings in Principal Financial Group were worth $690,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new position in shares of Principal Financial Group in the 2nd quarter worth approximately $26,000. Strategic Financial Concepts LLC bought a new stake in Principal Financial Group in the second quarter worth approximately $32,000. Newbridge Financial Services Group Inc. acquired a new position in Principal Financial Group in the fourth quarter valued at approximately $33,000. Family Firm Inc. bought a new position in shares of Principal Financial Group during the 2nd quarter worth approximately $33,000. Finally, Riverview Trust Co acquired a new stake in shares of Principal Financial Group during the 1st quarter worth approximately $34,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Trading Up 1.3 %

NYSE:PFG opened at $81.32 on Friday. Principal Financial Group, Inc. has a 12 month low of $66.21 and a 12 month high of $88.26. The firm’s 50 day moving average is $80.01 and its 200 day moving average is $80.86. The stock has a market capitalization of $19.06 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 0.83 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.

Principal Financial Group (NYSE:PFG) last announced its quarterly 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). Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. The business 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 company posted $1.53 earnings per share. Sell-side analysts expect 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. Shareholders of record on Thursday, September 5th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.88 annualized dividend and a dividend yield of 3.54%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.71. Principal Financial Group’s dividend payout ratio (DPR) is presently 54.96%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PFG shares. Bank of America raised their target price on Principal Financial Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Morgan Stanley cut their price target on 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. Barclays initiated coverage on Principal Financial Group in a research note on Wednesday, September 4th. They issued an “underweight” rating and a $74.00 price objective for the company. Jefferies Financial Group lifted their target price on Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. raised Principal Financial Group from an “underweight” rating to a “neutral” rating and increased their price target for the company from $88.00 to $96.00 in a research report on Tuesday, July 2nd. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $85.50.

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.