Weaver C. Barksdale & Associates Inc. trimmed its position in Principal Financial Group, Inc. (NYSE:PFG – Free Report) by 1.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,918 shares of the company’s stock after selling 322 shares during the quarter. Weaver C. Barksdale & Associates Inc.’s holdings in Principal Financial Group were worth $1,641,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the company. EdgeRock Capital LLC bought a new stake in Principal Financial Group in the 2nd quarter worth approximately $26,000. Strategic Financial Concepts LLC purchased a new position in shares of Principal Financial Group in the second quarter valued at $32,000. Newbridge Financial Services Group Inc. bought a new stake in Principal Financial Group in the fourth quarter worth $33,000. Family Firm Inc. bought a new stake in Principal Financial Group in the second quarter worth $33,000. Finally, Riverview Trust Co purchased a new stake in Principal Financial Group during the first quarter valued at $34,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.
Principal Financial Group Trading Up 2.3 %
NYSE PFG opened at $85.62 on Friday. Principal Financial Group, Inc. has a 12 month low of $66.21 and a 12 month high of $88.26. The company’s 50-day moving average price is $80.22 and its 200-day moving average price is $80.95. The stock has a market cap of $20.07 billion, a PE ratio of 16.34, a PEG ratio of 0.84 and a beta of 1.19. 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 Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.72 per share. The ex-dividend date is Thursday, September 5th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a yield of 3.36%. Principal Financial Group’s payout ratio is 54.96%.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Wells Fargo & Company dropped their price objective on shares of Principal Financial Group from $87.00 to $85.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Keefe, Bruyette & Woods dropped their price target on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. Citigroup boosted their price objective on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada raised their price objective on Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Finally, Morgan Stanley decreased their price target on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $85.50.
Get Our Latest Stock Analysis on PFG
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.
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