LVW Advisors LLC Takes $297,000 Position in Principal Financial Group, Inc. $PFG

LVW Advisors LLC acquired a new stake in Principal Financial Group, Inc. (NYSE:PFG) in the second quarter, Holdings Channel reports. The firm acquired 3,741 shares of the company’s stock, valued at approximately $297,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group acquired a new stake in Principal Financial Group in the second quarter worth $25,000. American National Bank & Trust purchased a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $28,000. von Borstel & Associates Inc. purchased a new position in shares of Principal Financial Group in the first quarter worth about $32,000. Zions Bancorporation National Association UT bought a new stake in shares of Principal Financial Group during the 1st quarter valued at $34,000. Finally, GKV Capital Management Co. Inc. purchased a new position in Principal Financial Group during the first quarter valued at approximately $45,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Up 1.4%

Shares of PFG stock opened at $82.62 on Monday. The company has a 50 day simple moving average of $79.64 and a two-hundred day simple moving average of $78.70. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.97. The stock has a market cap of $18.41 billion, a P/E ratio of 12.37, a P/E/G ratio of 0.76 and a beta of 1.03.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data 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 quarter in the prior year, the firm posted $1.63 earnings per share. On average, research analysts expect that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Thursday, September 4th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.8%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Thursday, September 4th. Principal Financial Group’s payout ratio is currently 62.78%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PFG shares. Wells Fargo & Company decreased their price objective on shares of Principal Financial Group from $73.00 to $72.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 30th. UBS Group lifted their target price 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. Morgan Stanley upped their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Monday, August 18th. Barclays boosted their target price on shares of Principal Financial Group from $76.00 to $80.00 and gave the company an “underweight” rating in a report on Monday, July 7th. Finally, Piper Sandler increased their target price on 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 investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $86.90.

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.