Vanguard Personalized Indexing Management LLC Purchases 1,509 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Vanguard Personalized Indexing Management LLC boosted its position in Principal Financial Group, Inc. (NYSE:PFG) by 7.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,150 shares of the company’s stock after purchasing an additional 1,509 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Principal Financial Group were worth $1,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of PFG. EdgeRock Capital LLC purchased a new position in Principal Financial Group during the 2nd quarter valued at $26,000. Strategic Financial Concepts LLC bought a new stake in shares of Principal Financial Group during the second quarter worth $32,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Principal Financial Group during the fourth quarter valued at $33,000. Family Firm Inc. bought a new position in shares of Principal Financial Group in the second quarter worth about $33,000. Finally, Riverview Trust Co purchased a new position in Principal Financial Group in the 1st quarter worth about $34,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Down 0.0 %

NYSE:PFG opened at $85.61 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market capitalization of $19.83 billion, a P/E ratio of 16.34, a P/E/G ratio of 0.87 and a beta of 1.19. The company’s 50-day simple moving average is $80.23 and its 200-day simple moving average is $80.99. Principal Financial Group, Inc. has a fifty-two week low of $66.21 and a fifty-two week high of $88.26.

Principal Financial Group (NYSE:PFG) last released 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). The firm had revenue of $4.31 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the firm posted $1.53 earnings per share. On average, equities analysts anticipate 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 will be paid on Friday, September 27th. Shareholders of record on Thursday, September 5th will be paid a $0.72 dividend. The ex-dividend date is Thursday, September 5th. This is a boost 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 dividend payout ratio (DPR) is 54.96%.

Analysts Set New Price Targets

A number of brokerages have commented on PFG. Royal Bank of Canada upped their target price 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. Barclays initiated coverage on Principal Financial Group in a report on Wednesday, September 4th. They set an “underweight” rating and a $74.00 price objective on the stock. JPMorgan Chase & Co. upgraded Principal Financial Group from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $88.00 to $96.00 in a report on Tuesday, July 2nd. Morgan Stanley cut their price target on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, Principal Financial Group presently has an average rating of “Hold” and an average price target 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.