Daiwa Securities Group Inc. Boosts Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Daiwa Securities Group Inc. raised its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 6.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,066 shares of the company’s stock after buying an additional 1,652 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Principal Financial Group were worth $2,124,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new stake in Principal Financial Group in the 2nd quarter valued at about $26,000. Riverview Trust Co purchased a new stake in Principal Financial Group in the 1st quarter valued at about $34,000. Newbridge Financial Services Group Inc. purchased a new stake in Principal Financial Group in the 4th quarter valued at about $33,000. Family Firm Inc. purchased a new stake in shares of Principal Financial Group during the 2nd quarter worth about $33,000. Finally, Salomon & Ludwin LLC grew its holdings in shares of Principal Financial Group by 319.3% during the 1st quarter. Salomon & Ludwin LLC now owns 499 shares of the company’s stock worth $43,000 after purchasing an additional 380 shares during the period. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PFG. Bank of America boosted their target price on Principal Financial Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Barclays began coverage on Principal Financial Group in a report on Wednesday, September 4th. They set an “underweight” rating and a $74.00 target price for the company. Wells Fargo & Company decreased their target price on Principal Financial Group from $87.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Morgan Stanley decreased their target price 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. Finally, Citigroup boosted their target price on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $85.50.

Principal Financial Group Stock Performance

Principal Financial Group stock opened at $81.32 on Friday. The stock’s 50 day moving average price is $80.01 and its 200 day moving average price is $80.86. The firm has a market capitalization of $19.06 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 0.83 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, Inc. has a one year low of $66.21 and a one year high of $88.26.

Principal Financial Group (NYSE:PFG) last announced 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). Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the company earned $1.53 earnings per share. As a group, sell-side analysts expect that Principal Financial Group, Inc. will post 7.31 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm 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 $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.54%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, September 5th. Principal Financial Group’s dividend payout ratio is presently 54.96%.

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.