MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stake in Principal Financial Group, Inc. $PFG

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 8.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 62,048 shares of the company’s stock after acquiring an additional 4,625 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Principal Financial Group were worth $5,235,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. acquired a new position in Principal Financial Group during the first quarter worth $32,000. Zions Bancorporation National Association UT acquired a new position in Principal Financial Group during the first quarter worth $34,000. Ameriflex Group Inc. acquired a new position in Principal Financial Group during the fourth quarter worth $37,000. GKV Capital Management Co. Inc. acquired a new position in Principal Financial Group during the first quarter worth $45,000. Finally, MorganRosel Wealth Management LLC acquired a new position in Principal Financial Group during the first quarter worth $46,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Up 2.5%

PFG stock opened at $82.08 on Friday. The company has a market cap of $18.28 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 0.76 and a beta of 1.03. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.97. The firm has a 50-day moving average of $79.37 and a two-hundred day moving average of $79.06.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Monday, July 28th. The company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.19. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period in the prior year, the business posted $1.63 earnings per share. As a group, analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be issued a $0.78 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Thursday, September 4th. Principal Financial Group’s payout ratio is currently 62.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Barclays upped their price objective on shares of Principal Financial Group from $76.00 to $80.00 and gave the stock an “underweight” rating in a research report on Monday, July 7th. Piper Sandler upped their price objective on shares of Principal Financial Group from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Thursday, July 3rd. Wells Fargo & Company reduced their price objective on shares of Principal Financial Group from $73.00 to $72.00 and set an “underweight” rating for the company in a research report on Wednesday, July 30th. UBS Group upped their target price on shares of Principal Financial Group from $85.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, July 29th. Finally, Morgan Stanley upped their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Monday, August 18th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $86.90.

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.