Principal Financial Group, Inc. (NYSE:PFG) Shares Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. increased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,433 shares of the company’s stock after acquiring an additional 1,933 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Principal Financial Group were worth $6,096,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new stake in Principal Financial Group during the 1st quarter worth $228,000. HighTower Advisors LLC raised its stake in Principal Financial Group by 14.0% during the 1st quarter. HighTower Advisors LLC now owns 16,469 shares of the company’s stock worth $1,389,000 after acquiring an additional 2,018 shares in the last quarter. Public Sector Pension Investment Board raised its stake in Principal Financial Group by 3.4% during the 1st quarter. Public Sector Pension Investment Board now owns 56,389 shares of the company’s stock worth $4,758,000 after acquiring an additional 1,835 shares in the last quarter. Independent Advisor Alliance raised its stake in Principal Financial Group by 9.5% during the 1st quarter. Independent Advisor Alliance now owns 5,006 shares of the company’s stock worth $422,000 after acquiring an additional 433 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Principal Financial Group during the 1st quarter worth $47,986,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Trading Down 0.6%

Shares of Principal Financial Group stock opened at $77.64 on Friday. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $91.97. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The company’s 50-day simple moving average is $78.47 and its 200-day simple moving average is $79.58. The firm has a market cap of $17.30 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 0.76 and a beta of 1.00.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Monday, July 28th. The company reported $2.16 earnings per share (EPS) 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 quarter last year, the business earned $1.63 EPS. As a group, equities research analysts anticipate that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.0%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.76. The ex-dividend date is Thursday, September 4th. Principal Financial Group’s dividend payout ratio (DPR) is presently 62.78%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Morgan Stanley reiterated an “underweight” rating and set a $75.00 price target (up from $71.00) on shares of Principal Financial Group in a research note on Monday, July 14th. Wells Fargo & Company dropped their price objective on shares of Principal Financial Group from $73.00 to $72.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 30th. UBS Group lifted their price objective on shares of Principal Financial Group from $85.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, July 29th. Keefe, Bruyette & Woods dropped their price objective on shares of Principal Financial Group from $90.00 to $88.00 and set a “market perform” rating on the stock in a research note on Monday, August 4th. Finally, Piper Sandler lifted their price objective on shares of Principal Financial Group from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Thursday, July 3rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $86.70.

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.