Principal Financial Group, Inc. (NYSE:PFG) Shares Bought by AMG National Trust Bank

AMG National Trust Bank lifted its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 20.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,797 shares of the company’s stock after purchasing an additional 20,219 shares during the quarter. AMG National Trust Bank owned about 0.05% of Principal Financial Group worth $9,477,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new stake in Principal Financial Group during the 2nd quarter worth approximately $26,000. Family Firm Inc. purchased a new stake in shares of Principal Financial Group during the second quarter valued at $33,000. Oldfather Financial Services LLC acquired a new position in shares of Principal Financial Group in the 2nd quarter valued at $268,000. My Legacy Advisors LLC purchased a new position in Principal Financial Group in the 2nd quarter worth $427,000. Finally, NewSquare Capital LLC raised its stake in Principal Financial Group by 4.9% in the 2nd quarter. NewSquare Capital LLC now owns 107,597 shares of the company’s stock worth $8,317,000 after acquiring an additional 5,052 shares during the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

PFG traded up $1.46 on Friday, reaching $79.48. The stock had a trading volume of 569,307 shares, compared to its average volume of 1,135,384. The business’s 50-day moving average price is $79.73 and its two-hundred day moving average price is $80.81. The company has a market cap of $18.41 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 0.82 and a beta of 1.21. Principal Financial Group, Inc. has a 12-month low of $66.21 and a 12-month high of $88.26. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. During the same quarter last year, the business earned $1.53 EPS. Sell-side analysts forecast that Principal Financial Group, Inc. will post 7.31 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 5th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.62%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, September 5th. Principal Financial Group’s payout ratio is presently 54.20%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PFG. Royal Bank of Canada increased their price objective on Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. JPMorgan Chase & Co. raised shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $88.00 to $96.00 in a research report on Tuesday, July 2nd. Citigroup lifted their price objective on shares of Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group increased their price objective on shares of Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Finally, Bank of America boosted their target price on shares of Principal Financial Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $85.58.

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.