6,101 Shares in Principal Financial Group, Inc. $PFG Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC bought a new stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 6,101 shares of the company’s stock, valued at approximately $658,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PFG. Beacon Pointe Advisors LLC acquired a new position in shares of Principal Financial Group in the 2nd quarter worth approximately $394,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Principal Financial Group in the second quarter valued at $418,000. Rakuten Investment Management Inc. bought a new stake in Principal Financial Group in the second quarter valued at $3,615,000. North Star Asset Management Inc. acquired a new position in Principal Financial Group during the second quarter worth $39,935,000. Finally, Empowered Funds LLC bought a new position in shares of Principal Financial Group during the second quarter valued at $7,104,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of NASDAQ:PFG opened at $111.41 on Monday. The business has a fifty day moving average of $111.84 and a 200-day moving average of $102.07. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.28 and a current ratio of 0.28. Principal Financial Group, Inc. has a twelve month low of $77.90 and a twelve month high of $116.61. The firm has a market cap of $23.85 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 1.01 and a beta of 0.87.

Principal Financial Group (NASDAQ:PFG) last issued its quarterly earnings results on Monday, July 27th. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.17. Principal Financial Group had a net margin of 9.93% and a return on equity of 16.49%. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter in the prior year, the company earned $2.16 EPS. On average, equities research analysts predict that Principal Financial Group, Inc. will post 9.62 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 3rd will be paid a $0.84 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.82. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Thursday, September 3rd. Principal Financial Group’s payout ratio is presently 46.59%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Principal Financial Group from $107.00 to $112.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Atlantic Securities set a $94.00 target price on shares of Principal Financial Group in a research report on Wednesday, July 15th. Jefferies Financial Group boosted their price target on shares of Principal Financial Group from $91.00 to $98.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Barclays upped their price objective on shares of Principal Financial Group from $87.00 to $92.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 7th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $121.00 price objective on shares of Principal Financial Group in a report on Monday, August 17th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $106.67.

Principal Financial Group Company Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.