Quadrant Capital Group LLC Grows Stock Holdings in Principal Financial Group, Inc. $PFG

Quadrant Capital Group LLC increased its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 67.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,294 shares of the company’s stock after purchasing an additional 4,560 shares during the period. Quadrant Capital Group LLC’s holdings in Principal Financial Group were worth $897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Principal Financial Group in the 2nd quarter valued at about $25,000. Traub Capital Management LLC purchased a new position in Principal Financial Group during the second quarter valued at approximately $26,000. American National Bank & Trust acquired a new position in Principal Financial Group in the second quarter valued at approximately $28,000. Curio Wealth LLC boosted its position in Principal Financial Group by 37,800.0% in the 2nd quarter. Curio Wealth LLC now owns 379 shares of the company’s stock worth $30,000 after purchasing an additional 378 shares in the last quarter. Finally, Private Wealth Asset Management LLC boosted its position in Principal Financial Group by 163.4% in the 2nd quarter. Private Wealth Asset Management LLC now owns 403 shares of the company’s stock worth $32,000 after purchasing an additional 250 shares in the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

Shares of NYSE:PFG opened at $84.82 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $90.31. The firm has a market capitalization of $18.90 billion, a PE ratio of 12.70, a P/E/G ratio of 0.76 and a beta of 1.02. The business’s 50 day moving average price is $82.31 and its 200-day moving average price is $80.14.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Monday, October 27th. The company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.12. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same period last year, the company posted $2.05 EPS. As a group, equities research analysts expect that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Wednesday, December 3rd will be given a dividend of $0.79 per share. The ex-dividend date is Wednesday, December 3rd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.78. This represents a $3.16 dividend on an annualized basis and a yield of 3.7%. Principal Financial Group’s dividend payout ratio (DPR) is presently 46.00%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PFG. Evercore ISI lifted their target price on shares of Principal Financial Group from $92.00 to $94.00 and gave the company an “in-line” rating in a report on Thursday, October 9th. Piper Sandler set a $94.00 price objective on shares of Principal Financial Group and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Morgan Stanley raised shares of Principal Financial Group from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $80.00 to $81.00 in a research note on Thursday, October 23rd. Wells Fargo & Company lifted their price target on Principal Financial Group from $73.00 to $74.00 and gave the company an “underweight” rating in a research note on Wednesday, October 29th. Finally, Barclays increased their price target on Principal Financial Group from $80.00 to $83.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $88.90.

Insider Buying and Selling

In other Principal Financial Group news, EVP Wee Yee Cheong sold 1,887 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $85.04, for a total value of $160,470.48. Following the transaction, the executive vice president directly owned 81,421 shares of the company’s stock, valued at $6,924,041.84. This trade represents a 2.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.08% of the company’s stock.

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.