Nykredit A S Buys New Holdings in Principal Financial Group, Inc. $PFG

Nykredit A S bought a new position in Principal Financial Group, Inc. (NASDAQ:PFG) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 63,336 shares of the company’s stock, valued at approximately $6,826,000.

A number of other institutional investors have also recently bought and sold shares of the business. Jupiter Topco LLC bought a new position in Principal Financial Group during the second quarter worth about $2,581,000. BlackRock Inc. bought a new stake in shares of Principal Financial Group in the 2nd quarter valued at approximately $2,157,181,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Principal Financial Group in the 4th quarter valued at approximately $32,473,000. MUFG Securities EMEA plc raised its holdings in shares of Principal Financial Group by 1,219.5% in the 4th quarter. MUFG Securities EMEA plc now owns 51,196 shares of the company’s stock worth $4,516,000 after buying an additional 47,316 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI bought a new position in shares of Principal Financial Group during the 4th quarter worth approximately $1,277,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Down 1.5%

Shares of NASDAQ PFG opened at $116.68 on Friday. Principal Financial Group, Inc. has a 12-month low of $77.90 and a 12-month high of $121.18. The firm’s 50-day simple moving average is $112.29 and its 200 day simple moving average is $102.74. 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 company has a market cap of $24.98 billion, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 1.06 and a beta of 0.86.

Principal Financial Group (NASDAQ:PFG) last posted its quarterly earnings data 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. Principal Financial Group had a net margin of 9.93% and a return on equity of 16.49%. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter last year, the company posted $2.16 EPS. On average, research analysts expect that Principal Financial Group, Inc. will post 9.62 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 3rd will be issued a $0.84 dividend. This is an increase 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 2.9%. The ex-dividend date of this dividend is Thursday, September 3rd. Principal Financial Group’s dividend payout ratio (DPR) is 47.73%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Jefferies Financial Group upped their price target on Principal Financial Group from $91.00 to $98.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Piper Sandler lifted their price objective on Principal Financial Group from $113.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Morgan Stanley upped their target price on shares of Principal Financial Group from $107.00 to $112.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Bank of America increased their target price on shares of Principal Financial Group from $94.00 to $104.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 28th. Finally, Wells Fargo & Company cut their price target on shares of Principal Financial Group from $114.00 to $113.00 and set an “equal weight” rating for the company in a report on Wednesday, July 22nd. Three equities 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $106.67.

About Principal Financial Group

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.