Principal Financial Group, Inc. (NYSE:PFG) Holdings Raised by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. increased its stake in Principal Financial Group, Inc. (NYSE:PFG – Free Report) by 7.5% in the second quarter, HoldingsChannel reports. The firm owned 6,460 shares of the company’s stock after buying an additional 450 shares during the period. The holdings of Sompo Asset Management Co. Ltd.’s holdings in Principal Financial Group were worth $507,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Hsbc Holdings PLC boosted its position in shares of Principal Financial Group by 12.3% in the 4th quarter. Hsbc Holdings PLC now owns 1,360,338 shares of the company’s stock valued at $107,030,000 after buying an additional 149,353 shares. actions during the period. State Board of Administration of Florida Retirement System boosted its stake in Principal Financial Group by 6.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 296,889 shares of the company’s stock worth $25,624,000 after purchasing an additional 18,368 shares in the last quarter. Cetera Investment Advisers boosted its stake in Principal Financial Group by 108.1% in the first quarter. Cetera Investment Advisers now owns 53,579 shares of the company’s stock worth $4,624,000 after acquiring an additional 27,827 shares during the last quarter. Sei Investments Co. raised its stake in Principal Financial Group by 59.4% in the first quarter. Sei Investments Co. now owns 24,275 shares of the company’s stock worth $2,095,000 after purchasing an additional 9,048 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its stake in Principal Financial Group by 8.6% in the first quarter. Sound Income Strategies LLC now owns 181,776 shares of the company’s stock worth $15,689,000 after purchasing an additional 14,339 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s shares.

Analysts on Wall Street are forecasting an increase

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods cut their price objective on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a research note on Tuesday, 30 July. Citigroup boosted their price objective on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. raised Principal Financial Group from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $88.00 to $96.00 in a research note on Tuesday, July 2nd . Royal Bank of Canada boosted their price objective on Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Finally, Raymond James raised Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 target price for the company in a research note on Tuesday , July 9. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com , Principal Financial Group has an average rating of “Hold” and an average target price of $85.50.

Get the latest stock analysis on PFG

Performance of shares of the main financial group

Shares of NYSE PFG opened at $85.61 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.29, and a current ratio of 0.29. The firm has a market cap of $19.83 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 0.87 and a beta of 1.19. The company’s 50-day simple moving average is $80.23, and its 200-day simple moving average is $80.99. Principal Financial Group, Inc. it has a 52-week low of $66.21 and a 52-week high of $88.26.

Principal Financial Group (NYSE:PFG – Get Free Report ) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $3.78 billion. Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. During the same period in the previous year, the company posted EPS of $1.53. As a group, equities research analysts expect that Principal Financial Group, Inc. to post 7.31 earnings per share for the current fiscal year.

Major financial group raises dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 5th will be given a $0.72 dividend. The ex-dividend date of this dividend is Thursday, September 5. This represents a dividend of $2.88 on an annualized basis and a yield of 3.36%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.71. The dividend payout ratio (DPR) of Principal Financial Group is 54.96%.

Principal Financial Group company profile

(Free Report)

Principal Financial Group, Inc provides pension, asset management and insurance products and services to companies, individuals and institutional clients worldwide. The company operates through the Pension & Income Solutions, Principal Asset Management and Benefits & Protection segments. The Retirement & Income Solutions segment provides retirement and related financial products and services.

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Want to see what other hedge funds PFG owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Principal Financial Group, Inc. (NYSE:PFG – Free Report).

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