EverSource Wealth Advisors LLC Increases Holdings in Principal Financial Group, Inc. (NYSE:PFG)

EverSource Wealth Advisors LLC boosted its position in Principal Financial Group, Inc. (NYSE:PFG) by 18.2% in the second quarter, Holdings Channel.com reports. The firm owned 930 shares of the company’s stock after buying an additional 143 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Principal Financial Group were worth $76,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. EdgeRock Capital LLC bought a new stake in Principal Financial Group in the 2nd quarter worth about $26,000. Strategic Financial Concepts LLC purchased a new position in shares of Principal Financial Group during the 2nd quarter valued at $32,000. Newbridge Financial Services Group Inc. bought a new position in shares of Principal Financial Group in the fourth quarter worth about $33,000. Family Firm Inc. purchased a new stake in Principal Financial Group during the 2nd quarter valued at approximately $33,000. Finally, Riverview Trust Co bought a new stake in Principal Financial Group in the 1st quarter valued at $34,000. Institutional investors own 75.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PFG shares. Raymond James raised shares of Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 price target on the stock in a research note on Tuesday, July 9th. Citigroup raised their price objective on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Barclays initiated coverage on Principal Financial Group in a research note on Wednesday, September 4th. They issued an “underweight” rating and a $74.00 target price on the stock. Jefferies Financial Group lifted their target price on shares of Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Finally, Bank of America raised their price objective on Principal Financial Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and a consensus price target of $85.50.

Principal Financial Group Trading Up 0.1 %

Shares of Principal Financial Group stock opened at $86.09 on Friday. The company’s 50-day simple moving average is $80.16 and its 200-day simple moving average is $81.13. Principal Financial Group, Inc. has a 52-week low of $66.21 and a 52-week high of $88.26. The firm has a market cap of $20.18 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 0.90 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 released its quarterly earnings results 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 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 quarter in the prior year, the company earned $1.53 earnings per share. As a group, equities research analysts anticipate that Principal Financial Group, Inc. will post 7.31 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Thursday, September 5th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, September 5th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a dividend yield of 3.35%. Principal Financial Group’s payout ratio is currently 54.96%.

Principal Financial Group 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.