Centric Wealth Management Has $2.36 Million Stock Position in Principal Financial Group, Inc. $PFG

Centric Wealth Management lifted its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 9.4% in the first quarter, Holdings Channel reports. The institutional investor owned 27,913 shares of the company’s stock after acquiring an additional 2,406 shares during the period. Centric Wealth Management’s holdings in Principal Financial Group were worth $2,355,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. von Borstel & Associates Inc. acquired a new stake in shares of Principal Financial Group during the first quarter worth $32,000. Zions Bancorporation National Association UT bought a new position in shares of Principal Financial Group in the first quarter worth $34,000. Ameriflex Group Inc. acquired a new position in Principal Financial Group in the fourth quarter valued at about $37,000. GKV Capital Management Co. Inc. bought a new stake in Principal Financial Group during the first quarter worth about $45,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in Principal Financial Group during the first quarter worth about $46,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PFG shares. Barclays increased their price objective on shares of Principal Financial Group from $76.00 to $80.00 and gave the stock an “underweight” rating in a research note on Monday, July 7th. Morgan Stanley increased their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research note on Monday, August 18th. UBS Group increased their price objective on shares of Principal Financial Group from $85.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 29th. Keefe, Bruyette & Woods reduced their price objective on shares of Principal Financial Group from $90.00 to $88.00 and set a “market perform” rating on the stock in a research note on Monday, August 4th. Finally, Piper Sandler increased their price objective on shares of Principal Financial Group from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Thursday, July 3rd. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $86.90.

Principal Financial Group Stock Performance

Principal Financial Group stock opened at $80.51 on Friday. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $91.97. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The business’s 50-day moving average price is $79.13 and its two-hundred day moving average price is $79.39. The stock has a market cap of $17.94 billion, a PE ratio of 12.05, a P/E/G ratio of 0.76 and a beta of 1.00.

Principal Financial Group (NYSE:PFG) last released its earnings results on Monday, July 28th. The company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.19. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same period in the previous year, the firm earned $1.63 EPS. As a group, analysts expect that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.9%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.76. The ex-dividend date is Thursday, September 4th. Principal Financial Group’s dividend payout ratio (DPR) is presently 62.78%.

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.