Northwestern Mutual Wealth Management Co. Has $1.71 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 44.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,744 shares of the company’s stock after acquiring an additional 6,735 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Principal Financial Group were worth $1,706,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. EdgeRock Capital LLC bought a new position in shares of Principal Financial Group during the second quarter worth about $26,000. Riverview Trust Co acquired a new stake in Principal Financial Group during the 1st quarter valued at approximately $34,000. Newbridge Financial Services Group Inc. bought a new position in Principal Financial Group during the 4th quarter worth approximately $33,000. Family Firm Inc. acquired a new position in shares of Principal Financial Group in the 2nd quarter worth approximately $33,000. Finally, Salomon & Ludwin LLC boosted its stake in shares of Principal Financial Group by 319.3% in the 1st quarter. Salomon & Ludwin LLC now owns 499 shares of the company’s stock valued at $43,000 after purchasing an additional 380 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on PFG. Bank of America lifted their target price on shares of Principal Financial Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Citigroup boosted 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. JPMorgan Chase & Co. raised Principal Financial Group from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $88.00 to $96.00 in a research note on Tuesday, July 2nd. Royal Bank of Canada lifted their target price on Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company cut their price target on Principal Financial Group from $87.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Principal Financial Group has a consensus rating of “Hold” and an average price target of $85.50.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $87.32 on Friday. 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 $20.47 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 0.91 and a beta of 1.19. The firm has a fifty day simple moving average of $80.35 and a two-hundred day simple moving average of $81.31. 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 (NYSE:PFG) last posted its earnings results on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $3.78 billion. During the same quarter in the prior year, the company 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 business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Thursday, September 5th were issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Thursday, September 5th. This is a positive change 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.