Principal Financial Group, Inc. (NYSE:PFG) Stake Lessened by LSV Asset Management

LSV Asset Management lowered its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 7.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,600 shares of the company’s stock after selling 900 shares during the period. LSV Asset Management’s holdings in Principal Financial Group were worth $832,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. EdgeRock Capital LLC purchased a new stake in shares of Principal Financial Group in the second quarter valued at $26,000. Riverview Trust Co acquired a new stake in Principal Financial Group during the first quarter valued at $34,000. Newbridge Financial Services Group Inc. acquired a new stake in Principal Financial Group during the fourth quarter valued at $33,000. Family Firm Inc. acquired a new stake in Principal Financial Group during the second quarter valued at $33,000. Finally, Salomon & Ludwin LLC lifted its position in shares of Principal Financial Group by 319.3% in the first quarter. Salomon & Ludwin LLC now owns 499 shares of the company’s stock worth $43,000 after buying an additional 380 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Up 1.6 %

Shares of PFG opened at $80.24 on Friday. Principal Financial Group, Inc. has a 12-month low of $66.21 and a 12-month high of $88.26. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $18.81 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 0.82 and a beta of 1.20. The stock’s 50-day moving average price is $79.95 and its 200 day moving average price is $80.85.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.87 by ($0.24). Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the firm earned $1.53 earnings per share. As a group, research analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.59%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, September 5th. Principal Financial Group’s payout ratio is presently 54.96%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Morgan Stanley reduced their price target on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Royal Bank of Canada boosted their price target on Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. raised Principal Financial Group from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $88.00 to $96.00 in a research report on Tuesday, July 2nd. Barclays initiated coverage on Principal Financial Group in a research note on Wednesday, September 4th. They issued an “underweight” rating and a $74.00 price objective on the stock. Finally, Wells Fargo & Company dropped their price objective on Principal Financial Group from $87.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.