Raymond James & Associates Increases Position in Principal Financial Group, Inc. (NYSE:PFG)

Raymond James & Associates lifted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 36.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 116,364 shares of the company's stock after acquiring an additional 30,973 shares during the quarter. Raymond James & Associates' holdings in Principal Financial Group were worth $9,996,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EdgeRock Capital LLC purchased a new stake in Principal Financial Group in the second quarter worth about $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Principal Financial Group in the 2nd quarter worth approximately $32,000. Family Firm Inc. bought a new position in shares of Principal Financial Group during the second quarter valued at approximately $33,000. Salomon & Ludwin LLC increased its holdings in Principal Financial Group by 319.3% during the first quarter. Salomon & Ludwin LLC now owns 499 shares of the company's stock valued at $43,000 after buying an additional 380 shares during the period. Finally, Innealta Capital LLC bought a new position in Principal Financial Group in the second quarter worth approximately $43,000. Institutional investors own 75.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PFG shares. Citigroup lifted their price target on Principal Financial Group from $68.00 to $70.00 and gave the company a "sell" rating in a report on Tuesday, July 23rd. Morgan Stanley cut their target price on Principal Financial Group from $85.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Monday, August 19th. JPMorgan Chase & Co. raised shares of Principal Financial Group from an "underweight" rating to a "neutral" rating and increased their price target for the company from $88.00 to $96.00 in a research report on Tuesday, July 2nd. Jefferies Financial Group lifted their price objective on shares of Principal Financial Group from $73.00 to $76.00 and gave the stock a "hold" rating in a research report on Thursday, July 18th. Finally, Bank of America decreased their target price on shares of Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating for the company in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Principal Financial Group currently has an average rating of "Hold" and an average price target of $85.58.

Principal Financial Group Stock Performance

Shares of NYSE PFG traded up $0.30 during mid-day trading on Wednesday, hitting $84.46. The stock had a trading volume of 966,344 shares, compared to its average volume of 1,132,453. The company has a 50 day moving average of $84.26 and a two-hundred day moving average of $81.78. Principal Financial Group, Inc. has a twelve month low of $66.71 and a twelve month high of $91.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.29 and a current ratio of 0.27. The firm has a market cap of $19.56 billion, a PE ratio of 16.06, a PEG ratio of 0.88 and a beta of 1.19.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing analysts' consensus estimates of $2.02 by ($0.26). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The firm had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the prior year, the company earned $1.72 EPS. Research analysts predict that Principal Financial Group, Inc. will post 7.28 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Monday, December 2nd. This is a boost from Principal Financial Group's previous quarterly dividend of $0.72. Principal Financial Group's dividend payout ratio (DPR) is 55.73%.

Principal Financial Group Profile

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