Principal Financial Group, Inc. (NYSE:PFG) Shares Acquired by Heartland Bank & Trust Co

Heartland Bank & Trust Co lifted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 4.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,496 shares of the company’s stock after acquiring an additional 234 shares during the period. Heartland Bank & Trust Co’s holdings in Principal Financial Group were worth $431,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Quarry LP acquired a new position in Principal Financial Group in the second quarter valued at $91,000. Sunbelt Securities Inc. increased its position in Principal Financial Group by 38.7% in the 2nd quarter. Sunbelt Securities Inc. now owns 9,877 shares of the company’s stock valued at $775,000 after acquiring an additional 2,757 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Principal Financial Group by 44.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 21,744 shares of the company’s stock valued at $1,706,000 after acquiring an additional 6,735 shares during the period. Creative Planning raised its stake in Principal Financial Group by 3.2% during the 2nd quarter. Creative Planning now owns 49,785 shares of the company’s stock valued at $3,906,000 after acquiring an additional 1,552 shares during the last quarter. Finally, Scientech Research LLC acquired a new stake in Principal Financial Group during the 2nd quarter worth approximately $578,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Down 0.2 %

Shares of NYSE:PFG opened at $85.90 on Tuesday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $19.89 billion, a P/E ratio of 16.39, a P/E/G ratio of 0.90 and a beta of 1.19. Principal Financial Group, Inc. has a 52-week low of $66.21 and a 52-week high of $88.26. The stock’s fifty day simple moving average is $80.20 and its 200-day simple moving average is $81.22.

Principal Financial Group (NYSE:PFG) last released its 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). The firm had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. During the same quarter last year, the company posted $1.53 earnings per share. As a group, equities research analysts forecast that Principal Financial Group, Inc. will post 7.31 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 5th were issued a $0.72 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a yield of 3.35%. Principal Financial Group’s payout ratio is 54.96%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upgraded Principal Financial Group from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $88.00 to $96.00 in a research note on Tuesday, July 2nd. Morgan Stanley cut their target price on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Bank of America raised their target price on Principal Financial Group from $87.00 to $94.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Barclays assumed coverage on shares of Principal Financial Group in a report on Wednesday, September 4th. They set an “underweight” rating and a $74.00 price objective on the stock. Finally, Citigroup lifted 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 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus 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.