Premier Path Wealth Partners LLC Has $414,000 Position in Principal Financial Group, Inc. $PFG

Premier Path Wealth Partners LLC trimmed its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,217 shares of the company’s stock after selling 182 shares during the period. Premier Path Wealth Partners LLC’s holdings in Principal Financial Group were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PFG. Victory Capital Management Inc. lifted its position in Principal Financial Group by 802.2% in the 1st quarter. Victory Capital Management Inc. now owns 3,707,534 shares of the company’s stock valued at $312,805,000 after acquiring an additional 3,296,608 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Principal Financial Group by 114.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,613,143 shares of the company’s stock valued at $220,471,000 after buying an additional 1,393,008 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Principal Financial Group by 1.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,468,728 shares of the company’s stock worth $123,917,000 after buying an additional 20,221 shares in the last quarter. Royal Bank of Canada raised its position in Principal Financial Group by 1.7% in the 1st quarter. Royal Bank of Canada now owns 1,080,097 shares of the company’s stock valued at $91,128,000 after buying an additional 17,969 shares during the last quarter. Finally, AustralianSuper Pty Ltd lifted its stake in Principal Financial Group by 11.2% during the 2nd quarter. AustralianSuper Pty Ltd now owns 993,643 shares of the company’s stock valued at $78,925,000 after acquiring an additional 100,397 shares in the last quarter. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Stock Up 1.6%

PFG stock opened at $84.04 on Friday. The stock has a 50-day simple moving average of $81.24 and a two-hundred day simple moving average of $78.97. The firm has a market capitalization of $18.72 billion, a PE ratio of 12.58, a PEG ratio of 0.76 and a beta of 1.03. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $90.31. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Monday, October 27th. The company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.12. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same quarter last year, the business earned $2.05 earnings per share. On average, equities analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Wednesday, December 3rd will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Wednesday, December 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.78. Principal Financial Group’s dividend payout ratio (DPR) is presently 46.00%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PFG. Keefe, Bruyette & Woods boosted their price target on shares of Principal Financial Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on Principal Financial Group from $92.00 to $101.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. UBS Group increased their price target on Principal Financial Group from $85.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, July 29th. Barclays lifted their price target on Principal Financial Group from $80.00 to $83.00 and gave the stock an “underweight” rating in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upped their price objective on Principal Financial Group from $73.00 to $74.00 and gave the company an “underweight” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $88.90.

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.