6,299 Shares in Principal Financial Group, Inc. $PFG Acquired by Hilltop National Bank

Hilltop National Bank bought a new position in shares of Principal Financial Group, Inc. (NYSE:PFG) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 6,299 shares of the company’s stock, valued at approximately $500,000.

Several other large investors have also recently added to or reduced their stakes in PFG. Oliver Lagore Vanvalin Investment Group purchased a new stake in Principal Financial Group during the 2nd quarter worth approximately $25,000. American National Bank & Trust purchased a new stake in shares of Principal Financial Group in the 2nd quarter valued at approximately $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Principal Financial Group in the 1st quarter valued at approximately $32,000. Zions Bancorporation National Association UT acquired a new position in shares of Principal Financial Group in the 1st quarter valued at $34,000. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of Principal Financial Group in the 1st quarter valued at $45,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PFG shares. UBS Group increased their price target on shares of Principal Financial Group from $85.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 29th. Morgan Stanley raised their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research note on Monday, August 18th. Wells Fargo & Company cut their price target on shares of Principal Financial Group from $73.00 to $72.00 and set an “underweight” rating for the company in a report on Wednesday, July 30th. Barclays increased their price target on shares of Principal Financial Group from $76.00 to $80.00 and gave the company an “underweight” rating in a report on Monday, July 7th. Finally, Piper Sandler increased their price target on shares of Principal Financial Group from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, July 3rd. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $86.90.

Principal Financial Group Stock Performance

NYSE:PFG opened at $84.24 on Friday. 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 $79.95 and a two-hundred day moving average price of $78.76. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $91.97. The company has a market capitalization of $18.77 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, beating the consensus estimate 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 in the prior year, the company posted $1.63 earnings per share. As a group, research analysts expect that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal 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 issued a dividend of $0.78 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.76. The ex-dividend date was Thursday, September 4th. This represents a $3.12 annualized dividend and a yield of 3.7%. Principal Financial Group’s payout ratio is 62.78%.

Principal Financial Group 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.