OMERS ADMINISTRATION Corp Takes $1.30 Million Position in Principal Financial Group, Inc. $PFG

OMERS ADMINISTRATION Corp acquired a new position in Principal Financial Group, Inc. (NASDAQ:PFG) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 12,079 shares of the company’s stock, valued at approximately $1,302,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PFG. DV Equities LLC bought a new stake in shares of Principal Financial Group in the fourth quarter valued at about $25,000. Hilton Head Capital Partners LLC acquired a new position in Principal Financial Group in the 4th quarter valued at approximately $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Principal Financial Group in the 1st quarter worth approximately $27,000. MBM Wealth Consultants LLC bought a new stake in shares of Principal Financial Group in the 1st quarter worth approximately $28,000. Finally, Bell Investment Advisors Inc acquired a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $38,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Up 0.6%

Shares of PFG opened at $112.21 on Thursday. Principal Financial Group, Inc. has a 1 year low of $77.90 and a 1 year high of $116.61. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.36. The stock has a 50 day simple moving average of $111.75 and a 200-day simple moving average of $101.85. The stock has a market cap of $24.02 billion, a PE ratio of 15.94, a PEG ratio of 1.01 and a beta of 0.88.

Principal Financial Group (NASDAQ:PFG) last announced its quarterly earnings results on Monday, July 27th. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.33 by $0.17. Principal Financial Group had a return on equity of 16.49% and a net margin of 9.93%.The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the previous year, the firm earned $2.16 EPS. On average, sell-side analysts predict that Principal Financial Group, Inc. will post 9.62 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.82. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.0%. Principal Financial Group’s dividend payout ratio (DPR) is 46.59%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PFG. Weiss Ratings upgraded Principal Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Barclays lifted their price target on shares of Principal Financial Group from $87.00 to $92.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods boosted their price target on shares of Principal Financial Group from $102.00 to $112.00 and gave the company a “market perform” rating in a report on Monday, July 13th. Wells Fargo & Company dropped their price objective on shares of Principal Financial Group from $114.00 to $113.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. Finally, Citigroup downgraded shares of Principal Financial Group from a “sell” rating to an “underperform” rating in a report on Wednesday, June 24th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $106.67.

Principal Financial Group Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.