Diversified Trust Co Boosts Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Diversified Trust Co lifted its stake 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 institutional investor owned 23,215 shares of the company’s stock after purchasing an additional 710 shares during the period. Diversified Trust Co’s holdings in Principal Financial Group were worth $1,821,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Spire Wealth Management lifted its position in shares of Principal Financial Group by 152.0% in the fourth quarter. Spire Wealth Management now owns 373 shares of the company’s stock valued at $29,000 after acquiring an additional 225 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in Principal Financial Group in the 4th quarter valued at about $31,000. Newbridge Financial Services Group Inc. purchased a new position in Principal Financial Group in the 4th quarter worth approximately $33,000. Riverview Trust Co acquired a new position in shares of Principal Financial Group during the 1st quarter worth approximately $34,000. Finally, Salomon & Ludwin LLC grew its position in shares of Principal Financial Group by 319.3% in the first quarter. Salomon & Ludwin LLC now owns 499 shares of the company’s stock valued at $43,000 after purchasing an additional 380 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Up 0.8 %

Shares of PFG stock traded up $0.59 during trading hours on Wednesday, reaching $75.82. 49,836 shares of the stock were exchanged, compared to its average volume of 1,126,139. The business’s fifty day moving average is $79.86 and its two-hundred day moving average is $80.89. The firm has a market capitalization of $17.77 billion, a P/E ratio of 14.36, a P/E/G ratio of 0.81 and a beta of 1.21. Principal Financial Group, Inc. has a 12-month low of $66.21 and a 12-month high of $88.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.29.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data 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 firm had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the prior year, the company posted $1.53 earnings per share. As a group, research analysts expect that Principal Financial Group, Inc. will post 7.33 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.72 per share. The ex-dividend date is Thursday, September 5th. This represents a $2.88 dividend on an annualized basis and a yield of 3.80%. 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 Analyst Weigh In

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $88.00 to $96.00 in a research report on Tuesday, July 2nd. Jefferies Financial Group lifted their target price on shares of Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Wells Fargo & Company decreased their price target on Principal Financial Group from $87.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Citigroup lifted their price objective on Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a research note on Tuesday, July 23rd. Finally, Raymond James raised Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 target price on the stock in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $85.50.

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.