Gentry Private Wealth LLC Grows Stock Position in Principal Financial Group, Inc. $PFG

Gentry Private Wealth LLC raised its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 2.2% in the second quarter, Holdings Channel reports. The institutional investor owned 7,099 shares of the company’s stock after acquiring an additional 156 shares during the period. Gentry Private Wealth LLC’s holdings in Principal Financial Group were worth $564,000 as of its most recent filing with the Securities and Exchange Commission.

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

Principal Financial Group Price Performance

Principal Financial Group stock opened at $84.18 on Tuesday. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $91.97. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $80.03 and a 200-day moving average price of $78.69. The firm has a market capitalization of $18.75 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.19. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period last year, the company posted $1.63 EPS. As a group, equities research analysts forecast that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Thursday, September 4th were paid a $0.78 dividend. The ex-dividend date was Thursday, September 4th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a yield of 3.7%. Principal Financial Group’s payout ratio is 62.78%.

Wall Street Analysts Forecast Growth

PFG has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research note on Monday, August 18th. Keefe, Bruyette & Woods cut their price objective on Principal Financial Group from $90.00 to $88.00 and set a “market perform” rating for the company in a research report on Monday, August 4th. Piper Sandler boosted their target price on Principal Financial Group from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Thursday, July 3rd. Barclays raised their price target on Principal Financial Group from $76.00 to $80.00 and gave the company an “underweight” rating in a report on Monday, July 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Principal Financial Group from $92.00 to $101.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. 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 data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $86.90.

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.