HB Wealth Management LLC Purchases 251 Shares of Principal Financial Group, Inc. (NYSE:PFG)

HB Wealth Management LLC boosted its position in Principal Financial Group, Inc. (NYSE:PFG) by 9.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,044 shares of the company’s stock after purchasing an additional 251 shares during the quarter. HB Wealth Management LLC’s holdings in Principal Financial Group were worth $239,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. EdgeRock Capital LLC bought a new position in shares of Principal Financial Group in the 2nd quarter worth about $26,000. Spire Wealth Management grew its holdings in Principal Financial Group by 152.0% in the fourth quarter. Spire Wealth Management now owns 373 shares of the company’s stock worth $29,000 after purchasing an additional 225 shares during the period. Newbridge Financial Services Group Inc. bought a new position in shares of Principal Financial Group during the fourth quarter valued at approximately $33,000. Family Firm Inc. purchased a new position in shares of Principal Financial Group during the second quarter valued at approximately $33,000. Finally, Riverview Trust Co bought a new stake in shares of Principal Financial Group in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Up 0.9 %

NYSE:PFG opened at $81.42 on Friday. The company has a 50 day simple moving average of $79.83 and a two-hundred day simple moving average of $80.84. The company has a market cap of $19.08 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 0.82 and a beta of 1.21. 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, Inc. has a 12 month low of $66.21 and a 12 month high of $88.26.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.63 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the firm earned $1.53 EPS. Research analysts forecast that Principal Financial Group, Inc. will post 7.31 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 5th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Thursday, September 5th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.71. Principal Financial Group’s dividend payout ratio is 54.96%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PFG shares. Jefferies Financial Group raised their price objective on Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Royal Bank of Canada upped their price target 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. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $88.00 to $96.00 in a research note on Tuesday, July 2nd. 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 report on Thursday, July 11th. Finally, Morgan Stanley cut their price target on shares of 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. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Principal Financial Group presently has an average rating of “Hold” and an average price target of $85.58.

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.