Principal Financial Group, Inc. (NYSE:PFG) Stock Holdings Lifted by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. boosted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 652.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,583 shares of the company’s stock after buying an additional 23,048 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Principal Financial Group were worth $2,085,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in PFG. Spire Wealth Management increased its stake in shares of Principal Financial Group by 152.0% during the 4th quarter. Spire Wealth Management now owns 373 shares of the company’s stock worth $29,000 after purchasing an additional 225 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Principal Financial Group in the fourth quarter valued at $143,000. Jump Financial LLC acquired a new position in shares of Principal Financial Group in the 4th quarter valued at $1,507,000. Westpac Banking Corp lifted its stake in Principal Financial Group by 59.9% during the fourth quarter. Westpac Banking Corp now owns 1,471 shares of the company’s stock worth $116,000 after purchasing an additional 551 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Principal Financial Group by 1.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 232,017 shares of the company’s stock worth $18,253,000 after buying an additional 2,439 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PFG. Wells Fargo & Company cut their price target on shares of Principal Financial Group from $87.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Keefe, Bruyette & Woods lowered their price objective on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. Bank of America upped 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. Barclays began coverage on shares of Principal Financial Group in a research note on Wednesday, September 4th. They set an “underweight” rating and a $74.00 price objective on the stock. Finally, Morgan Stanley decreased their target price on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $85.50.

Principal Financial Group Stock Down 0.4 %

Shares of PFG stock opened at $78.98 on Thursday. The firm’s fifty day moving average price is $79.93 and its two-hundred day moving average price is $80.86. Principal Financial Group, Inc. has a 1 year low of $66.21 and a 1 year 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. The firm has a market capitalization of $18.51 billion, a P/E ratio of 15.07, a PEG ratio of 0.82 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). The firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate 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 period last year, the business earned $1.53 EPS. On average, equities analysts predict that Principal Financial Group, Inc. will post 7.31 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date is Thursday, September 5th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.71. Principal Financial Group’s dividend payout ratio (DPR) is currently 54.96%.

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.