Some large investors have changed their positions in Principal Financial Group (PFG). Clarity Asset Management bought a new stake worth about $95,000 in Q4. V Square Quantitative Management increased its holdings by 25.2% to 5,357 shares valued at $421,000 after buying 1,079 additional shares. Syon Capital raised its stake by 36.2%, now owning 5,487 shares worth $432,000 after adding 1,457 shares. Goldman Sachs boosted its holding by 10.2%, owning 2,157,712 shares valued at about $169.7 million. Fortis Group Advisors doubled its position to 916 shares valued at $72,000. Overall, 75.08% of PFG stock is owned by institutional investors.
PFG Stock Update
PFG opened at $87.48 last Friday. Its 50-day moving average is $80.63 and its 200-day average is $81.36. The stock has a year low of $66.21 and a high of $88.26. PFG has a market cap of $20.5 billion, a PE ratio of 16.69, and a beta of 1.19. Its current and quick ratios are both 0.29, with a debt-to-equity ratio of 0.36.
The company reported quarterly earnings on July 25, earning $1.63 per share, which missed estimates of $1.87 by $0.24. PFG had revenue of $4.31 billion for the quarter, exceeding the expected $3.78 billion, and a return on equity of 14.92%.
Dividend Increase
PFG recently increased its quarterly dividend to $0.72, up from $0.71. This equates to an annual dividend of $2.88, yielding 3.29%. The dividend payout ratio is currently 54.96%.
Analyst Opinions
Recent analyst ratings include JPMorgan upgrading PFG from “underweight” to “neutral” with a target price increase from $88 to $96. Citigroup set a “sell” rating and revised their target down to $70. Wells Fargo raised their target from $85 to $86. Analysts’ ratings for PFG are mixed, with two sell ratings, nine holds, and one strong buy.
Read Our Latest Analysis of Principal Financial Group
About Principal Financial Group
PFG provides retirement, asset management, and insurance services globally, operating through various segments including Retirement and Income Solutions.
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