Principal Financial Group, Inc. (NYSE:PFG) Shares Bought by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. raised its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 7.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,460 shares of the company’s stock after purchasing an additional 450 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Principal Financial Group were worth $507,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PFG. EdgeRock Capital LLC acquired a new stake in shares of Principal Financial Group during the 2nd quarter valued at approximately $26,000. Strategic Financial Concepts LLC acquired a new stake in shares of Principal Financial Group during the 2nd quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Principal Financial Group during the 4th quarter valued at approximately $33,000. Family Firm Inc. acquired a new stake in shares of Principal Financial Group during the 2nd quarter valued at approximately $33,000. Finally, Riverview Trust Co acquired a new stake in shares of Principal Financial Group during the 1st quarter valued at approximately $34,000. 75.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PFG. Wells Fargo & Company dropped 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 report on Monday, July 29th. Citigroup increased their target price on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. raised Principal Financial Group from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $88.00 to $96.00 in a research report on Tuesday, July 2nd. Bank of America increased their target price on Principal Financial Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods dropped their target price on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the company. According to MarketBeat, Principal Financial Group currently has a consensus rating of “Hold” and an average target price of $85.50.

Principal Financial Group Trading Down 0.0 %

NYSE:PFG opened at $85.61 on Friday. Principal Financial Group, Inc. has a 1 year low of $66.21 and a 1 year high of $88.26. The stock has a market cap of $19.83 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 0.87 and a beta of 1.19. The business has a fifty day moving average of $80.23 and a 200-day moving average of $80.99. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.29 and a current ratio of 0.29.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.87 by ($0.24). Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the company posted $1.53 EPS. Equities analysts predict that Principal Financial Group, Inc. will post 7.31 earnings per share for the current 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 of this dividend is Thursday, September 5th. This represents a $2.88 annualized dividend and a yield of 3.36%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.71. Principal Financial Group’s dividend payout ratio (DPR) is currently 54.96%.

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.