Kingsview Wealth Management LLC Acquires Shares of 6,101 Principal Financial Group, Inc. $PFG

Kingsview Wealth Management LLC bought a new stake in Principal Financial Group, Inc. (NASDAQ:PFG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,101 shares of the company’s stock, valued at approximately $658,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Principal Financial Group in the second quarter valued at approximately $2,157,181,000. Eurizon Capital SGR S.p.A. bought a new position in Principal Financial Group in the fourth quarter valued at approximately $32,473,000. MUFG Securities EMEA plc grew its holdings in Principal Financial Group by 1,219.5% during the 4th quarter. MUFG Securities EMEA plc now owns 51,196 shares of the company’s stock worth $4,516,000 after acquiring an additional 47,316 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new stake in Principal Financial Group during the 4th quarter worth $1,277,000. Finally, Legal & General Group Plc raised its position in shares of Principal Financial Group by 1.5% during the 4th quarter. Legal & General Group Plc now owns 1,639,302 shares of the company’s stock valued at $144,603,000 after acquiring an additional 23,686 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

PFG opened at $111.41 on Monday. The firm’s fifty day moving average is $111.84 and its two-hundred day moving average is $102.07. The firm has a market cap of $23.85 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 1.01 and a beta of 0.87. Principal Financial Group, Inc. has a twelve month low of $77.90 and a twelve month high of $116.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.28 and a current ratio of 0.28.

Principal Financial Group (NASDAQ:PFG) last released its quarterly earnings data on Monday, July 27th. The company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.17. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.11 billion. Principal Financial Group had a net margin of 9.93% and a return on equity of 16.49%. During the same quarter in the prior year, the company earned $2.16 EPS. Equities research analysts anticipate that Principal Financial Group, Inc. will post 9.62 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 3rd will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 3.0%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.82. The ex-dividend date is Thursday, September 3rd. Principal Financial Group’s dividend payout ratio is currently 46.59%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PFG. Raymond James Financial reissued an “outperform” rating and issued a $121.00 price target on shares of Principal Financial Group in a research note on Monday, August 17th. Weiss Ratings raised Principal Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. JPMorgan Chase & Co. upped their price objective on Principal Financial Group from $106.00 to $107.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Atlantic Securities set a $94.00 target price on Principal Financial Group in a research note on Wednesday, July 15th. Finally, Bank of America raised their target price on Principal Financial Group from $94.00 to $104.00 and gave the stock an “underperform” rating in a report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Principal Financial Group presently has an average rating of “Hold” and a consensus price target of $106.67.

Principal Financial Group Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.