Seven Eight Capital LP Takes Position in Principal Financial Group, Inc. (NYSE:PFG)

Seven Eight Capital LP purchased a new stake in Principal Financial Group, Inc. (NYSE:PFG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 19,287 shares of the company’s stock, valued at approximately $1,665,000.

A number of other institutional investors also recently modified their holdings of the company. Spire Wealth Management increased its position in Principal Financial Group by 152.0% during the fourth quarter. Spire Wealth Management now owns 373 shares of the company’s stock worth $29,000 after acquiring an additional 225 shares during the period. EdgeRock Capital LLC bought a new stake in Principal Financial Group in the 4th quarter valued at $31,000. Newbridge Financial Services Group Inc. bought a new stake in Principal Financial Group in the 4th quarter valued at $33,000. Riverview Trust Co bought a new stake in Principal Financial Group in the 1st quarter valued at $34,000. Finally, PrairieView Partners LLC bought a new stake in Principal Financial Group in the 4th quarter valued at $39,000. Institutional investors own 75.08% of the company’s stock.

Analyst Upgrades and Downgrades

PFG has been the topic of several analyst reports. Citigroup boosted their price target on shares of Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a report on Tuesday. Morgan Stanley boosted their price target on shares of Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods boosted their target price on shares of Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $88.00 to $96.00 in a research note on Tuesday, July 2nd. Finally, Jefferies Financial Group boosted their target price on shares of Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $85.42.

Principal Financial Group Price Performance

NYSE PFG traded down $0.37 on Tuesday, hitting $84.97. 650,495 shares of the company were exchanged, compared to its average volume of 1,098,835. The firm has a 50 day moving average of $81.20 and a two-hundred day moving average of $80.98. The company has a market cap of $19.92 billion, a P/E ratio of 16.29, a P/E/G ratio of 0.93 and a beta of 1.21. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 1-year low of $66.21 and a 1-year high of $88.26.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.09). The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.68 billion. Principal Financial Group had a return on equity of 15.06% and a net margin of 8.70%. During the same quarter last year, the company earned $1.48 EPS. On average, equities analysts predict that Principal Financial Group, Inc. will post 7.43 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd were issued a dividend of $0.71 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.69. This represents a $2.84 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend was Monday, June 3rd. Principal Financial Group’s payout ratio is currently 54.20%.

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.