Sei Investments Co. Raises Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Sei Investments Co. boosted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,237 shares of the company’s stock after buying an additional 962 shares during the period. Sei Investments Co.’s holdings in Principal Financial Group were worth $1,980,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in Principal Financial Group by 2.2% during the second quarter. Farther Finance Advisors LLC now owns 6,325 shares of the company’s stock valued at $493,000 after acquiring an additional 135 shares during the last quarter. Ballentine Partners LLC boosted its holdings in Principal Financial Group by 5.0% in the second quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock worth $228,000 after acquiring an additional 138 shares in the last quarter. Graypoint LLC grew its stake in shares of Principal Financial Group by 5.6% during the second quarter. Graypoint LLC now owns 2,654 shares of the company’s stock worth $208,000 after acquiring an additional 140 shares during the last quarter. City State Bank increased its holdings in shares of Principal Financial Group by 1.7% during the first quarter. City State Bank now owns 8,216 shares of the company’s stock valued at $709,000 after acquiring an additional 141 shares in the last quarter. Finally, Jacobi Capital Management LLC raised its position in shares of Principal Financial Group by 3.1% in the 1st quarter. Jacobi Capital Management LLC now owns 5,301 shares of the company’s stock valued at $458,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Up 3.2 %

PFG opened at $87.32 on Friday. The company has a fifty day moving average of $80.35 and a two-hundred day moving average of $81.31. 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 fifty-two week low of $66.21 and a fifty-two week high of $88.26. The stock has a market capitalization of $20.47 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 0.91 and a beta of 1.19.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates 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 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 posted $1.53 EPS. On average, research analysts expect 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 declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 5th were paid a $0.72 dividend. The ex-dividend date was Thursday, September 5th. This represents a $2.88 dividend on an annualized basis and a yield of 3.30%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.71. Principal Financial Group’s dividend payout ratio (DPR) is currently 54.96%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PFG shares. Citigroup upped their price target on shares of Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a research note on Tuesday, July 23rd. Barclays initiated coverage on Principal Financial Group in a report on Wednesday, September 4th. They issued an “underweight” rating and a $74.00 price objective on the stock. Morgan Stanley dropped their target price on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Piper Sandler raised their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus 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.