Denali Advisors LLC Raises Position in Principal Financial Group, Inc. (NYSE:PFG)

Denali Advisors LLC raised its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 61.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,748 shares of the company’s stock after purchasing an additional 4,100 shares during the period. Denali Advisors LLC’s holdings in Principal Financial Group were worth $843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Principal Securities Inc. purchased a new stake in shares of Principal Financial Group in the fourth quarter worth approximately $143,000. Janney Montgomery Scott LLC raised its holdings in shares of Principal Financial Group by 3.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 18,771 shares of the company’s stock worth $1,477,000 after buying an additional 579 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of Principal Financial Group by 59.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 40,787 shares of the company’s stock worth $3,209,000 after buying an additional 15,277 shares during the period. Independent Advisor Alliance raised its holdings in shares of Principal Financial Group by 11.4% in the fourth quarter. Independent Advisor Alliance now owns 5,130 shares of the company’s stock worth $404,000 after buying an additional 524 shares during the period. Finally, Norges Bank purchased a new stake in shares of Principal Financial Group in the fourth quarter worth approximately $253,990,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PFG shares. Barclays assumed coverage on Principal Financial Group in a report on Wednesday, September 4th. They issued an “underweight” rating and a $74.00 price target on the stock. Jefferies Financial Group increased their price objective on Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Royal Bank of Canada increased their price objective on Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. 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 research note on Tuesday, July 30th. Finally, Raymond James raised Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 price objective on the stock in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Principal Financial Group has an average rating of “Hold” and a consensus price target of $85.50.

Principal Financial Group Stock Performance

Shares of PFG opened at $82.17 on Tuesday. Principal Financial Group, Inc. has a 12 month low of $66.21 and a 12 month high of $88.26. The stock has a fifty day moving average price of $80.08 and a 200-day moving average price of $80.87. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.36. The firm has a market cap of $19.03 billion, a PE ratio of 15.68, a P/E/G ratio of 0.84 and a beta of 1.19.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.63 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 business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the prior year, the company posted $1.53 EPS. Equities research analysts predict that Principal Financial Group, Inc. will post 7.31 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.72 per share. The ex-dividend date is Thursday, September 5th. This represents a $2.88 dividend on an annualized basis and a yield of 3.50%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.71. Principal Financial Group’s payout ratio is currently 54.96%.

About Principal Financial Group

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.