Principal Financial Group, Inc. (NASDAQ:PFG) Shares Bought by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System grew its stake in Principal Financial Group, Inc. (NASDAQ:PFG) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 336,788 shares of the company’s stock after buying an additional 4,031 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Principal Financial Group were worth $21,282,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Rafferty Asset Management LLC boosted its holdings in shares of Principal Financial Group by 12.1% in the 2nd quarter. Rafferty Asset Management LLC now owns 166,988 shares of the company’s stock valued at $10,552,000 after buying an additional 18,068 shares in the last quarter. Resources Investment Advisors LLC. boosted its holdings in shares of Principal Financial Group by 264.2% in the 2nd quarter. Resources Investment Advisors LLC. now owns 18,334 shares of the company’s stock valued at $1,159,000 after buying an additional 13,300 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Principal Financial Group by 11.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 50,404 shares of the company’s stock valued at $3,185,000 after buying an additional 5,372 shares in the last quarter. Foster Group Inc. boosted its holdings in shares of Principal Financial Group by 42.6% in the 2nd quarter. Foster Group Inc. now owns 15,331 shares of the company’s stock valued at $969,000 after buying an additional 4,581 shares in the last quarter. Finally, GW Henssler & Associates Ltd. boosted its holdings in shares of Principal Financial Group by 12.3% in the 2nd quarter. GW Henssler & Associates Ltd. now owns 277,083 shares of the company’s stock valued at $17,509,000 after buying an additional 30,443 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Shares of Principal Financial Group stock opened at $65.74 on Friday. The company has a market cap of $17.64 billion, a P/E ratio of 11.45, a PEG ratio of 0.66 and a beta of 1.62. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.06 and a current ratio of 0.06. Principal Financial Group, Inc. has a one year low of $37.03 and a one year high of $68.40. The firm has a fifty day moving average of $64.45 and a two-hundred day moving average of $63.35.

Principal Financial Group (NASDAQ:PFG) last announced its quarterly earnings data on Tuesday, July 27th. The company reported $1.70 EPS for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.17. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.71 billion. Principal Financial Group had a net margin of 11.48% and a return on equity of 9.58%. During the same quarter in the prior year, the firm earned $1.46 EPS. As a group, equities analysts predict that Principal Financial Group, Inc. will post 6.49 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 24th. Shareholders of record on Wednesday, September 1st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, August 31st. This represents a $2.52 dividend on an annualized basis and a yield of 3.83%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.61. Principal Financial Group’s dividend payout ratio is presently 51.01%.

Several brokerages have recently issued reports on PFG. Morgan Stanley upped their price target on shares of Principal Financial Group from $70.00 to $71.00 and gave the company an “equal weight” rating in a research report on Thursday, July 15th. Zacks Investment Research downgraded shares of Principal Financial Group from a “buy” rating to a “hold” rating and set a $69.00 price target for the company. in a research report on Friday, September 10th. Credit Suisse Group upgraded shares of Principal Financial Group from a “neutral” rating to an “outperform” rating and upped their price target for the company from $57.00 to $82.00 in a research report on Tuesday, July 6th. Piper Sandler reduced their price target on shares of Principal Financial Group from $69.00 to $67.00 and set a “neutral” rating for the company in a research report on Thursday, July 8th. They noted that the move was a valuation call. Finally, upped their price target on shares of Principal Financial Group from $62.00 to $64.00 and gave the company a “neutral” rating in a research report on Monday, June 21st. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $65.55.

Principal Financial Group Profile

Principal Financial Group, Inc is a financial company, which offers financial products and services to businesses, individuals and institutional clients. It specializes in retirement solutions, insurance, and investment products through its diverse family of financial services companies and national network of financial professionals.

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Institutional Ownership by Quarter for Principal Financial Group (NASDAQ:PFG)

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