Principal Financial Group, Inc. $PFG Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 12.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,216,125 shares of the company’s stock after acquiring an additional 244,550 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Principal Financial Group were worth $238,854,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Focus Financial Network Inc. lifted its stake in shares of Principal Financial Group by 2.0% in the 2nd quarter. Focus Financial Network Inc. now owns 5,613 shares of the company’s stock valued at $605,000 after purchasing an additional 110 shares in the last quarter. Prosperity Consulting Group LLC increased its position in Principal Financial Group by 1.6% during the 1st quarter. Prosperity Consulting Group LLC now owns 6,921 shares of the company’s stock worth $624,000 after purchasing an additional 111 shares in the last quarter. Blue Trust Inc. raised its holdings in Principal Financial Group by 14.8% in the first quarter. Blue Trust Inc. now owns 921 shares of the company’s stock valued at $83,000 after buying an additional 119 shares during the period. Parallel Advisors LLC raised its holdings in Principal Financial Group by 7.6% in the fourth quarter. Parallel Advisors LLC now owns 1,686 shares of the company’s stock valued at $149,000 after buying an additional 119 shares during the period. Finally, Beacon Financial Group lifted its position in Principal Financial Group by 2.8% during the first quarter. Beacon Financial Group now owns 4,451 shares of the company’s stock valued at $401,000 after buying an additional 120 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Trading Down 1.1%

PFG opened at $110.16 on Tuesday. The firm’s 50 day moving average is $111.81 and its 200-day moving average is $102.18. Principal Financial Group, Inc. has a 52-week low of $77.90 and a 52-week high of $116.61. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $23.59 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.01 and a beta of 0.87.

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

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 3rd will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Thursday, September 3rd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.82. Principal Financial Group’s dividend payout ratio is currently 46.59%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PFG. Keefe, Bruyette & Woods boosted their price objective on shares of Principal Financial Group from $102.00 to $112.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Jefferies Financial Group lifted their target price on shares of Principal Financial Group from $91.00 to $98.00 and gave the company a “hold” rating in a report on Friday, July 10th. Piper Sandler upped their price target on shares of Principal Financial Group from $113.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Weiss Ratings upgraded Principal Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Finally, Barclays raised their price objective on Principal Financial Group from $87.00 to $92.00 and gave the company an “underweight” rating in a research report on Tuesday, July 7th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $106.67.

Principal Financial Group 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.