BerganKDV Wealth Management LLC Decreases Holdings in Principal Financial Group, Inc. (NASDAQ:PFG)

BerganKDV Wealth Management LLC trimmed its holdings in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 0.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,205 shares of the company’s stock after selling 272 shares during the period. BerganKDV Wealth Management LLC’s holdings in Principal Financial Group were worth $3,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Wealthcare Advisory Partners LLC acquired a new stake in shares of Principal Financial Group during the first quarter worth about $26,000. Daiwa Securities Group Inc. increased its position in shares of Principal Financial Group by 2.9% during the first quarter. Daiwa Securities Group Inc. now owns 13,942 shares of the company’s stock worth $836,000 after purchasing an additional 390 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Principal Financial Group by 6.9% during the first quarter. Envestnet Asset Management Inc. now owns 36,101 shares of the company’s stock worth $2,165,000 after purchasing an additional 2,337 shares in the last quarter. IFM Investors Pty Ltd increased its position in shares of Principal Financial Group by 23.4% during the first quarter. IFM Investors Pty Ltd now owns 32,372 shares of the company’s stock worth $1,941,000 after purchasing an additional 6,138 shares in the last quarter. Finally, Commerce Bank increased its position in shares of Principal Financial Group by 1.5% during the first quarter. Commerce Bank now owns 185,397 shares of the company’s stock worth $11,116,000 after purchasing an additional 2,680 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

A number of research firms have recently commented on PFG. Zacks Investment Research cut Principal Financial Group from a “buy” rating to a “hold” rating and set a $69.00 target price on the stock. in a research report on Friday, September 10th. Piper Sandler dropped their price target on Principal Financial Group from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, July 8th. They noted that the move was a valuation call. Royal Bank of Canada boosted their price target on Principal Financial Group from $66.00 to $67.00 and gave the company a “sector perform” rating in a research report on Thursday, July 29th. boosted their price target on Principal Financial Group from $62.00 to $64.00 and gave the company a “neutral” rating in a research report on Monday, June 21st. Finally, Morgan Stanley boosted their price target on Principal Financial Group from $70.00 to $71.00 and gave the company an “equal weight” rating in a research report on Thursday, July 15th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Principal Financial Group currently has a consensus rating of “Hold” and an average price target of $65.55.

NASDAQ PFG traded up $1.08 on Wednesday, hitting $66.22. 15,091 shares of the company’s stock were exchanged, compared to its average volume of 1,385,100. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.06 and a quick ratio of 0.06. The firm’s 50-day moving average price is $64.25 and its two-hundred day moving average price is $63.31. Principal Financial Group, Inc. has a fifty-two week low of $37.03 and a fifty-two week high of $68.40. The firm has a market cap of $17.77 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 0.66 and a beta of 1.62.

Principal Financial Group (NASDAQ:PFG) last announced its quarterly earnings results on Tuesday, July 27th. The company reported $1.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.17. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.71 billion. Principal Financial Group had a return on equity of 9.58% and a net margin of 11.48%. During the same quarter in the previous year, the company earned $1.46 EPS. On average, research analysts predict that Principal Financial Group, Inc. will post 6.49 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 24th. Stockholders of record on Wednesday, September 1st will be paid a dividend of $0.63 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.61. The ex-dividend date is Tuesday, August 31st. This represents a $2.52 annualized dividend and a dividend yield of 3.81%. Principal Financial Group’s payout ratio is 51.01%.

Principal Financial Group Profile

Principal Financial Group, Inc is a financial company, which offers financial products and services to businesses, individuals and institutional clients. It specializes in retirement solutions, insurance, and investment products through its diverse family of financial services companies and national network of financial professionals.

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Institutional Ownership by Quarter for Principal Financial Group (NASDAQ:PFG)

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