Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Richardson Financial Services Inc.

Richardson Financial Services Inc. lowered its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 9.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,430 shares of the company’s stock after selling 150 shares during the quarter. Richardson Financial Services Inc.’s holdings in Principal Financial Group were worth $112,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EdgeRock Capital LLC acquired a new stake in Principal Financial Group during the second quarter worth approximately $26,000. Riverview Trust Co acquired a new stake in Principal Financial Group during the 1st quarter worth $34,000. Newbridge Financial Services Group Inc. purchased a new stake in Principal Financial Group in the fourth quarter valued at $33,000. Family Firm Inc. purchased a new stake in shares of Principal Financial Group in the 2nd quarter valued at about $33,000. Finally, Salomon & Ludwin LLC lifted its stake in Principal Financial Group by 319.3% in the first quarter. Salomon & Ludwin LLC now owns 499 shares of the company’s stock valued at $43,000 after buying an additional 380 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Price Performance

PFG opened at $85.62 on Friday. Principal Financial Group, Inc. has a 1 year low of $66.21 and a 1 year high of $88.26. The company’s 50 day simple moving average is $80.22 and its 200 day simple moving average is $80.95. The stock has a market capitalization of $20.07 billion, a PE ratio of 16.34, a P/E/G ratio of 0.84 and a beta of 1.19. 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 posted 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 business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $3.78 billion. Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. During the same period last year, the company posted $1.53 EPS. As a group, sell-side analysts expect that Principal Financial Group, Inc. will post 7.31 EPS for the current year.

Principal Financial Group Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PFG shares. Raymond James raised shares of Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 target price for the company in a report on Tuesday, July 9th. Keefe, Bruyette & Woods decreased 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. Royal Bank of Canada raised their price objective on shares of Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Jefferies Financial Group boosted their price target on Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. raised Principal Financial Group from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $88.00 to $96.00 in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $85.50.

About Principal Financial Group

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.