Intech Investment Management LLC Buys 63,747 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Intech Investment Management LLC raised its stake in Principal Financial Group, Inc. (NYSE:PFG) by 27.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 298,562 shares of the company’s stock after buying an additional 63,747 shares during the period. Intech Investment Management LLC owned about 0.13% of Principal Financial Group worth $23,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Hsbc Holdings PLC boosted its position in Principal Financial Group by 12.3% in the 4th quarter. Hsbc Holdings PLC now owns 1,360,338 shares of the company’s stock valued at $107,030,000 after buying an additional 149,353 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Principal Financial Group by 6.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 296,889 shares of the company’s stock valued at $25,624,000 after buying an additional 18,368 shares during the period. Cetera Investment Advisers boosted its position in Principal Financial Group by 108.1% in the 1st quarter. Cetera Investment Advisers now owns 53,579 shares of the company’s stock valued at $4,624,000 after buying an additional 27,827 shares during the period. Sei Investments Co. boosted its position in Principal Financial Group by 59.4% in the 1st quarter. Sei Investments Co. now owns 24,275 shares of the company’s stock valued at $2,095,000 after buying an additional 9,048 shares during the period. Finally, Sound Income Strategies LLC lifted its position in shares of Principal Financial Group by 8.6% in the 1st quarter. Sound Income Strategies LLC now owns 181,776 shares of the company’s stock worth $15,689,000 after purchasing an additional 14,339 shares during the period. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Trading Up 2.3 %

Shares of Principal Financial Group stock opened at $85.62 on Friday. 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, Inc. has a 12-month low of $66.21 and a 12-month high of $88.26. The firm has a market capitalization of $20.07 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 0.84 and a beta of 1.19. The firm’s 50 day simple moving average is $80.22 and its two-hundred day simple moving average is $80.95.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.63 earnings per share (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 company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the company posted $1.53 EPS. Analysts predict that Principal Financial Group, Inc. will post 7.31 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.72 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, September 5th. This represents a $2.88 dividend on an annualized basis and a yield of 3.36%. Principal Financial Group’s dividend payout ratio is presently 54.96%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Morgan Stanley lowered their price target on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Wells Fargo & Company lowered their price target on shares of Principal Financial Group from $87.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Bank of America upped their price target on shares of Principal Financial Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Raymond James raised shares of Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 price target for the company in a research report on Tuesday, July 9th. Finally, Citigroup increased their target price on shares of Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $85.50.

Principal Financial Group Company 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.