Big investors are adjusting their shares in Principal Financial Group (PFG). Clarity Asset Management bought shares worth about $95,000. V Square Quantitative Management increased its holdings by 25.2%, now owning 5,357 shares valued at $421,000. Syon Capital raised its shares by 36.2%, now holding 5,487 shares worth $432,000. Goldman Sachs boosted its stake by 10.2%, owning over 2.15 million shares valued at around $170 million. Fortis Group doubled its shares to 916, worth $72,000. Overall, 75.08% of PFG stock is owned by institutions.
Principal Financial Group Stock Stability
PFG opened at $87.48. Its 50-day moving average is $80.63, and the 200-day is $81.36. The stock’s one-year range is $66.21 to $88.26, with a market cap of $20.50 billion, a PE ratio of 16.69, and a beta of 1.19. Financial ratios show a current ratio of 0.29 and a debt-to-equity ratio of 0.36.
On July 25th, PFG reported earnings of $1.63 per share, below analysts’ expectations of $1.87. The company’s revenue for the quarter was $4.31 billion, exceeding estimates. For the current year, analysts forecast earnings of $7.3 per share.
Dividend Increase
PFG declared a quarterly dividend of $0.72, up from $0.71, payable September 27th. This gives an annual dividend of $2.88 with a yield of 3.29%. The ex-dividend date was September 5th, and the payout ratio is 54.96%.
Analyst Ratings
JPMorgan upgraded PFG from “underweight” to “neutral” with a target of $96. Citigroup set a target of $70 with a “sell” rating. Wells Fargo adjusted its target to $86 with an “equal weight” rating. Overall, two analysts recommend selling, nine hold, and one strongly buys. Consensus rating is “Hold” with an average target of $85.42.
About Principal Financial Group
PFG offers retirement, asset management, and insurance services globally, operating through various segments including Retirement and Income Solutions.
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