Mizuho Asset Management Co. Ltd. increased its position in shares of Principal Financial Group Inc. (NYSE:PFG) by 90.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,055 shares of the company’s stock after buying an additional 1,926 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in Principal Financial Group were worth $167,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of PFG. Americafirst Capital Management LLC bought a new position in Principal Financial Group during the second quarter worth $100,000. Acrospire Investment Management LLC increased its stake in shares of Principal Financial Group by 17.4% in the second quarter. Acrospire Investment Management LLC now owns 2,700 shares of the company’s stock valued at $111,000 after buying an additional 400 shares during the period. Societe Generale acquired a new stake in shares of Principal Financial Group during the second quarter valued at about $195,000. Advisor Partners LLC acquired a new stake in shares of Principal Financial Group during the first quarter valued at about $207,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Principal Financial Group during the second quarter valued at about $220,000. 67.09% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Principal Financial Group Inc. (NYSE:PFG) opened at 50.56 on Friday. The stock has a market capitalization of $14.54 billion, a PE ratio of 12.02 and a beta of 1.65. Principal Financial Group Inc. has a one year low of $33.09 and a one year high of $52.21. The firm has a 50 day moving average price of $48.17 and a 200 day moving average price of $43.61.

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, July 28th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.09. Principal Financial Group had a return on equity of 12.52% and a net margin of 10.20%. During the same period in the prior year, the firm earned $1.09 EPS. Analysts predict that Principal Financial Group Inc. will post $4.36 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Wednesday, August 31st. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.39. Principal Financial Group’s dividend payout ratio (DPR) is 38.86%.

Several brokerages recently issued reports on PFG. RBC Capital Markets set a $52.00 target price on Principal Financial Group and gave the company a “buy” rating in a research note on Friday, August 19th. Deutsche Bank AG set a $48.00 target price on Principal Financial Group and gave the company a “hold” rating in a research note on Wednesday, August 3rd. Stifel Nicolaus raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Sunday, July 31st. JPMorgan Chase & Co. reissued a “sell” rating and set a $46.00 target price on shares of Principal Financial Group in a research note on Friday, July 29th. Finally, Barclays PLC lifted their target price on Principal Financial Group from $41.00 to $47.00 and gave the company an “equal weight” rating in a research note on Friday, July 29th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $48.14.

About Principal Financial Group

Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance services. The Company’s segments include Retirement and Income Solutions; Principal Global Investors, Principal International, and U.S.

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