Principal Financial Group, Inc. (NYSE:PFG) Share reduced by Mn Services Vermogensbeheer BV

Mn Services Vermogensbeheer BV reduced its holdings in Principal Financial Group, Inc. (NYSE:PFG – Free Report) by 2.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,680 shares of the company’s stock after selling 2,700 shares during the quarter. Mn Services Vermogensbeheer BV’s holdings in Principal Financial Group were worth $7,349,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have recently made changes to their positions in the business. EdgeRock Capital LLC bought a new stake in shares of Principal Financial Group in the second quarter worth $26,000. Family Firm Inc. purchased a new position in shares of Principal Financial Group in the second quarter valued at $33,000. Oldfather Financial Services LLC purchased a new position in Principal Financial Group in the second quarter valued at about $268,000. My Legacy Advisors LLC purchased a new position in Principal Financial Group in the second quarter valued at about $427,000. Finally, NewSquare Capital LLC increased its holdings in Principal Financial Group by 4.9% during the 2nd quarter. NewSquare Capital LLC now owns 107,597 shares of the company’s stock worth $8,317,000 after buying another 5,052 shares during that period. Institutional investors own 75.08% of the company’s shares.

Changes in Analyst Ratings

Several research analysts have commented on the shares. Royal Bank of Canada upped their target price on shares of Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Wells Fargo & Company cut their price objective on shares of Principal Financial Group from $87.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th . JPMorgan Chase & Co. raised shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $88.00 to $96.00 in a research note on Tuesday, July 2nd . 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 report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods cut their price target on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a report on Tuesday , July 30. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Principal Financial Group currently has an average rating of “Hold” and an average target price of $85.58.

Check out our latest research report on PFG

Stocks of the main financial group rose 1.9%

PFG opened at $79.48 on Monday. The company has a market cap of $18.63 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 0.82 and a beta of 1.21. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29, and a quick ratio of 0.29. Principal Financial Group, Inc. it has a fifty-two week low of $66.21 and a fifty-two week high of $88.26. The company has a 50-day moving average of $79.73 and a 200-day moving average of $80.83.

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 firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $3.78 billion. Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. In the same quarter last year, the company posted EPS of $1.53. Equities research analysts forecast that Principal Financial Group, Inc. will post 7.31 EPS for the current fiscal year.

Major financial group raises dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, September 5. This represents a dividend of $2.88 on an annualized basis and a dividend yield of 3.62%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.71. Principal Financial Group’s dividend payout ratio (DPR) is currently 54.96%.

About Principal Financial Group

(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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