GAMMA Investing LLC Acquires 1,630 Shares of Principal Financial Group, Inc. (NYSE:PFG)

GAMMA Investing LLC increased its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 83.9% in the 2nd quarter, Holdings Channel reports. The fund owned 3,572 shares of the company’s stock after buying an additional 1,630 shares during the quarter. GAMMA Investing LLC’s holdings in Principal Financial Group were worth $280,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PFG. Spire Wealth Management increased its stake in Principal Financial Group by 152.0% during the 4th quarter. Spire Wealth Management now owns 373 shares of the company’s stock valued at $29,000 after purchasing an additional 225 shares in the last quarter. EdgeRock Capital LLC bought a new stake in shares of Principal Financial Group in the fourth quarter worth approximately $31,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Principal Financial Group in the fourth quarter worth approximately $33,000. Riverview Trust Co bought a new stake in shares of Principal Financial Group in the first quarter worth approximately $34,000. Finally, PrairieView Partners LLC bought a new stake in shares of Principal Financial Group in the fourth quarter worth approximately $39,000. 75.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PFG shares. Morgan Stanley raised their price objective on shares of Principal Financial Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Jefferies Financial Group raised their price objective on shares of Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. raised shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $88.00 to $96.00 in a report on Tuesday, July 2nd. Wells Fargo & Company dropped their price objective on shares of Principal Financial Group from $87.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Finally, Citigroup raised their price objective on shares of Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $85.50.

Principal Financial Group Price Performance

Shares of PFG stock traded down $2.47 during mid-day trading on Monday, hitting $72.94. The company had a trading volume of 1,595,661 shares, compared to its average volume of 1,125,125. Principal Financial Group, Inc. has a 52-week low of $66.21 and a 52-week high of $88.26. The stock’s 50 day moving average price is $80.84 and its 200-day moving average price is $81.15. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $17.10 billion, a P/E ratio of 13.90, a P/E/G ratio of 0.87 and a beta of 1.21.

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, July 25th. The company reported $1.63 EPS for the quarter, missing the consensus estimate of $1.87 by ($0.24). Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same period last year, the firm posted $1.53 EPS. Equities research analysts forecast that Principal Financial Group, Inc. will post 7.33 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 5th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.95%. The ex-dividend date is Thursday, September 5th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.71. Principal Financial Group’s payout ratio is currently 54.96%.

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.