Capital Fund Management S.A. Invests $1.49 Million in Principal Financial Group, Inc. $PFG

Capital Fund Management S.A. bought a new stake in Principal Financial Group, Inc. (NYSE:PFG) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 18,711 shares of the company’s stock, valued at approximately $1,486,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. boosted its stake in Principal Financial Group by 7.6% in the first quarter. Geneos Wealth Management Inc. now owns 1,889 shares of the company’s stock valued at $159,000 after acquiring an additional 134 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of Principal Financial Group by 2.5% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 5,550 shares of the company’s stock valued at $449,000 after purchasing an additional 137 shares during the period. Federation des caisses Desjardins du Quebec grew its stake in Principal Financial Group by 0.5% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 27,536 shares of the company’s stock worth $2,323,000 after buying an additional 139 shares during the last quarter. Sagespring Wealth Partners LLC increased its position in Principal Financial Group by 4.0% during the second quarter. Sagespring Wealth Partners LLC now owns 4,035 shares of the company’s stock worth $321,000 after buying an additional 154 shares during the period. Finally, Gentry Private Wealth LLC increased its position in Principal Financial Group by 2.2% during the second quarter. Gentry Private Wealth LLC now owns 7,099 shares of the company’s stock worth $564,000 after buying an additional 156 shares during the period. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Trading Down 0.0%

Shares of Principal Financial Group stock opened at $85.93 on Friday. The firm has a market cap of $19.14 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 0.76 and a beta of 0.89. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $90.31. The company’s 50-day simple moving average is $82.57 and its 200-day simple moving average is $80.26. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Monday, October 27th. The company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.12. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same period last year, the firm posted $2.05 EPS. As a group, equities research analysts anticipate that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Wednesday, December 3rd will be issued a dividend of $0.79 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.78. This represents a $3.16 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, December 3rd. Principal Financial Group’s dividend payout ratio is currently 46.00%.

Insiders Place Their Bets

In other Principal Financial Group news, EVP Wee Yee Cheong sold 1,887 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $85.04, for a total value of $160,470.48. Following the completion of the transaction, the executive vice president owned 81,421 shares in the company, valued at approximately $6,924,041.84. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PFG shares. Keefe, Bruyette & Woods raised their target price on shares of Principal Financial Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research report on Thursday, October 30th. Barclays increased their price target on shares of Principal Financial Group from $80.00 to $83.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 8th. Piper Sandler set a $94.00 price objective on shares of Principal Financial Group and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Morgan Stanley upgraded shares of Principal Financial Group from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $80.00 to $81.00 in a research note on Thursday, October 23rd. Finally, Evercore ISI boosted their price target on Principal Financial Group from $92.00 to $94.00 and gave the company an “in-line” rating in a research report on Thursday, October 9th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $88.90.

Principal Financial Group Company 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.