Iowa State Bank Reduces Stock Holdings in Principal Financial Group, Inc. $PFG

Iowa State Bank decreased its stake in Principal Financial Group, Inc. (NYSE:PFG) by 4.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,768 shares of the company’s stock after selling 261 shares during the quarter. Iowa State Bank’s holdings in Principal Financial Group were worth $458,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Geneos Wealth Management Inc. boosted its holdings in shares of Principal Financial Group by 7.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,889 shares of the company’s stock worth $159,000 after purchasing an additional 134 shares during the period. Federation des caisses Desjardins du Quebec lifted its stake in shares of Principal Financial Group by 0.5% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 27,536 shares of the company’s stock worth $2,323,000 after acquiring an additional 139 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in shares of Principal Financial Group by 3.9% during the 1st quarter. Stratos Wealth Partners LTD. now owns 3,826 shares of the company’s stock worth $323,000 after acquiring an additional 144 shares during the last quarter. Raiffeisen Bank International AG lifted its stake in shares of Principal Financial Group by 12.6% during the 1st quarter. Raiffeisen Bank International AG now owns 1,380 shares of the company’s stock worth $115,000 after acquiring an additional 154 shares during the last quarter. Finally, WFA Asset Management Corp lifted its stake in shares of Principal Financial Group by 32.3% during the 1st quarter. WFA Asset Management Corp now owns 684 shares of the company’s stock worth $59,000 after acquiring an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Wall Street Analyst Weigh In

PFG has been the subject of a number of research analyst reports. Barclays raised their price target on Principal Financial Group from $76.00 to $80.00 and gave the stock an “underweight” rating in a research note on Monday, July 7th. Piper Sandler raised their price target on Principal Financial Group from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Thursday, July 3rd. Morgan Stanley raised their price target on 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 decreased their price target on Principal Financial Group from $73.00 to $72.00 and set an “underweight” rating for the company in a research note on Wednesday, July 30th. Finally, UBS Group raised their price target on Principal Financial Group from $85.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 29th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Principal Financial Group has an average rating of “Reduce” and a consensus target price of $86.90.

Principal Financial Group Trading Down 0.0%

PFG opened at $84.24 on Monday. The stock’s fifty day moving average is $79.95 and its two-hundred day moving average is $78.69. The company has a market capitalization of $18.77 billion, a P/E ratio of 12.61, a PEG ratio of 0.76 and a beta of 1.03. 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.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Monday, July 28th. The company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.19. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same period in the prior year, the firm posted $1.63 EPS. Analysts forecast that Principal Financial Group, Inc. will post 8.5 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 26th. Stockholders of record on Thursday, September 4th were issued a $0.78 dividend. The ex-dividend date was Thursday, September 4th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.76. Principal Financial Group’s dividend payout ratio (DPR) is 62.78%.

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.