MQS Management LLC Buys New Shares in Principal Financial Group, Inc. (NYSE:PFG)

MQS Management LLC purchased a new position in shares of Principal Financial Group, Inc. (NYSE:PFG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,436 shares of the company’s stock, valued at approximately $270,000.

A number of other large investors also recently bought and sold shares of PFG. XTX Topco Ltd acquired a new stake in shares of Principal Financial Group during the 2nd quarter worth $702,000. Vanguard Personalized Indexing Management LLC increased its stake in Principal Financial Group by 7.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 23,150 shares of the company’s stock worth $1,796,000 after acquiring an additional 1,509 shares during the last quarter. Argent Trust Co raised its holdings in shares of Principal Financial Group by 6.6% in the 2nd quarter. Argent Trust Co now owns 28,467 shares of the company’s stock worth $2,233,000 after purchasing an additional 1,772 shares during the period. Denali Advisors LLC raised its holdings in shares of Principal Financial Group by 61.7% in the 2nd quarter. Denali Advisors LLC now owns 10,748 shares of the company’s stock worth $843,000 after purchasing an additional 4,100 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Principal Financial Group by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,905,124 shares of the company’s stock valued at $306,393,000 after purchasing an additional 39,854 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Price Performance

PFG stock opened at $85.61 on Friday. The stock’s 50 day moving average is $80.23 and its two-hundred day moving average is $80.99. Principal Financial Group, Inc. has a 52-week low of $66.21 and a 52-week high of $88.26. The company has a market capitalization of $19.83 billion, a PE ratio of 16.34, a P/E/G ratio of 0.87 and a beta of 1.19. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG) last posted 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 net margin of 8.05% and a return on equity of 14.92%. The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the company earned $1.53 earnings per share. Analysts predict that Principal Financial Group, Inc. will post 7.31 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.72 per share. This is a boost 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 (DPR) is presently 54.96%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barclays began coverage on shares of Principal Financial Group in a report on Wednesday, September 4th. They issued an “underweight” rating and a $74.00 price target on the stock. Bank of America lifted their target price on shares of Principal Financial Group from $87.00 to $94.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Morgan Stanley lowered their price target on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Keefe, Bruyette & Woods cut their price objective 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. Finally, Raymond James raised 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 research report on Tuesday, July 9th. Two 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $85.50.

Principal Financial Group Company 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.