Sanctuary Advisors LLC Makes New Investment in Principal Financial Group, Inc. (NYSE:PFG)

Sanctuary Advisors LLC acquired a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,999 shares of the company’s stock, valued at approximately $1,187,000.

Several other large investors have also modified their holdings of PFG. Clarity Asset Management Inc. purchased a new position in Principal Financial Group during the 4th quarter worth approximately $95,000. V Square Quantitative Management LLC grew its holdings in shares of Principal Financial Group by 25.2% during the fourth quarter. V Square Quantitative Management LLC now owns 5,357 shares of the company’s stock valued at $421,000 after buying an additional 1,079 shares in the last quarter. Syon Capital LLC raised its position in Principal Financial Group by 36.2% during the fourth quarter. Syon Capital LLC now owns 5,487 shares of the company’s stock valued at $432,000 after buying an additional 1,457 shares during the period. Goldman Sachs Group Inc. lifted its stake in Principal Financial Group by 10.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,157,712 shares of the company’s stock worth $169,747,000 after acquiring an additional 200,056 shares in the last quarter. Finally, Fortis Group Advisors LLC boosted its position in Principal Financial Group by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 916 shares of the company’s stock worth $72,000 after acquiring an additional 458 shares during the period. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Stock Down 0.0 %

PFG opened at $87.48 on Friday. The stock’s fifty day simple moving average is $80.63 and its 200 day simple moving average is $81.36. Principal Financial Group, Inc. has a 1-year low of $66.21 and a 1-year high of $88.26. The stock has a market cap of $20.50 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 0.90 and a beta of 1.19. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. 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 EPS. As a group, research analysts expect that Principal Financial Group, Inc. will post 7.3 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Thursday, September 5th were paid a $0.72 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date was Thursday, September 5th. Principal Financial Group’s dividend payout ratio (DPR) is presently 54.96%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PFG. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $88.00 to $96.00 in a report on Tuesday, July 2nd. Citigroup upped their target price on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company lifted their price target on Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday. Keefe, Bruyette & Woods dropped their price objective on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Finally, Jefferies Financial Group lifted their target price on shares of Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $85.42.

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.