Callan Family Office LLC Takes Position in Principal Financial Group, Inc. $PFG

Callan Family Office LLC bought a new stake in Principal Financial Group, Inc. (NASDAQ:PFG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,624 shares of the company’s stock, valued at approximately $714,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. acquired a new position in Principal Financial Group in the 2nd quarter valued at approximately $67,000. Allworth Financial LP acquired a new position in shares of Principal Financial Group in the second quarter valued at $872,000. B. Metzler seel. Sohn & Co. AG bought a new position in Principal Financial Group in the second quarter worth $3,424,000. Silvant Capital Management LLC acquired a new stake in Principal Financial Group during the second quarter worth $188,000. Finally, Oxford Financial Group LTD. LLC acquired a new stake in Principal Financial Group during the second quarter worth $216,000. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Price Performance

Shares of PFG stock opened at $111.59 on Wednesday. Principal Financial Group, Inc. has a 1 year low of $77.90 and a 1 year high of $116.61. The firm’s 50 day moving average is $111.71 and its 200-day moving average is $101.74. The firm has a market capitalization of $23.89 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 1.01 and a beta of 0.88. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NASDAQ:PFG) last issued its quarterly earnings results on Monday, July 27th. The company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.17. Principal Financial Group had a net margin of 9.93% and a return on equity of 16.49%. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.11 billion. During the same quarter last year, the business posted $2.16 earnings per share. Sell-side analysts forecast that Principal Financial Group, Inc. will post 9.62 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 3rd will be paid a $0.84 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $3.36 annualized dividend and a dividend yield of 3.0%. Principal Financial Group’s payout ratio is 46.59%.

Analyst Upgrades and Downgrades

PFG has been the subject of a number of recent research reports. Raymond James Financial reissued an “outperform” rating and issued a $121.00 target price on shares of Principal Financial Group in a report on Monday, August 17th. Citigroup lowered Principal Financial Group from a “sell” rating to an “underperform” rating in a research note on Wednesday, June 24th. JPMorgan Chase & Co. lifted their price objective on Principal Financial Group from $106.00 to $107.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods boosted their target price on shares of Principal Financial Group from $102.00 to $112.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Finally, Weiss Ratings upgraded shares of Principal Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Principal Financial Group currently has a consensus rating of “Hold” and an average target price of $106.67.

Principal Financial Group Company Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.