Principal Financial Group, Inc. (NYSE:PFG) Shares Bought by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. grew its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 964.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,788 shares of the company’s stock after buying an additional 2,526 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Principal Financial Group were worth $219,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. EdgeRock Capital LLC purchased a new stake in shares of Principal Financial Group during the second quarter worth approximately $26,000. Strategic Financial Concepts LLC acquired a new position in Principal Financial Group in the second quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. purchased a new position in Principal Financial Group in the fourth quarter worth approximately $33,000. Family Firm Inc. acquired a new stake in Principal Financial Group during the second quarter worth $33,000. Finally, Riverview Trust Co purchased a new stake in Principal Financial Group in the first quarter valued at $34,000. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Price Performance

Shares of NYSE PFG opened at $83.73 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market cap of $19.62 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 0.84 and a beta of 1.19. The stock’s 50-day moving average is $80.19 and its two-hundred day moving average is $80.92. 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 issued its earnings results on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $3.78 billion. During the same period last year, the business earned $1.53 EPS. Analysts forecast that Principal Financial Group, Inc. will post 7.31 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently announced 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. The ex-dividend date is Thursday, September 5th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.44%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.71. Principal Financial Group’s payout ratio is presently 54.96%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. raised Principal Financial Group from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $88.00 to $96.00 in a research report on Tuesday, July 2nd. Citigroup boosted their price target on shares of Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods dropped their target price on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. Barclays started coverage on Principal Financial Group in a research report on Wednesday, September 4th. They issued an “underweight” rating and a $74.00 target price on the stock. Finally, Jefferies Financial Group raised their price target on Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Principal Financial Group has a consensus rating of “Hold” and an average 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.