Czech National Bank Expands Its Holdings in Principal Financial Group

The Czech National Bank has recently ramped up its investment in Principal Financial Group, Inc. (NYSE:PFG) by 5.6% during the third quarter, as detailed in their latest disclosure to the Securities and Exchange Commission (SEC). Following this increase, the bank now holds a total of 43,402 shares of Principal Financial Group after acquiring an additional 2,311 shares in this period. The total worth of these holdings was approximately $3,728,000 at the conclusion of the recent reporting cycle.

Several other investment funds have also been active in buying and selling shares of Principal Financial Group. Farther Finance Advisors LLC augmented its position in the firm by 2.2% in the second quarter, resulting in ownership of 6,325 shares valued at roughly $493,000 after adding 135 shares. Similarly, Ballentine Partners LLC increased its stake by 5.0% during the same quarter, owning 2,906 shares now valued at $228,000 after acquiring an additional 138 shares. Additionally, Graypoint LLC raised its holdings by 5.6%, bringing its total to 2,654 shares worth about $208,000. City State Bank also grew its position by 1.7% during the first quarter, owning 8,216 shares valued at $709,000 after acquiring 141 shares. Lastly, EverSource Wealth Advisors LLC boosted its stake by 18.2%, resulting in ownership of 930 shares valued at $76,000 after buying 143 shares. Collectively, hedge funds and other institutional investors comprise 75.08% of the company's stock ownership.

Performance Metrics for Principal Financial Group

As of Friday, the stock value of Principal Financial Group opened at $89.20. The company boasts a market capitalization of $20.66 billion, with a price-to-earnings ratio of 17.32, a PEG ratio of 0.92, and a beta value of 1.19. The stock reached a fifty-two week low of $66.21 and a high of $89.51. Its financial metrics also include a low debt-to-equity ratio of 0.36, with both quick and current ratios at 0.29. The recent fifty-day moving average stands at $80.79, while the two-hundred day moving average is $81.40.

Principal Financial Group last reported its earnings on July 25th, where the company posted earnings per share (EPS) of $1.63 for the quarter, missing the forecasted consensus of $1.87 by $0.24. The firm recorded a revenue of $4.31 billion, which exceeded the expected $3.78 billion. During the same period last year, they recorded an EPS of $1.53. Analysts are currently estimating that Principal Financial Group will achieve an EPS of 7.31 for the current fiscal year.

Dividend Announcement from Principal Financial Group

The company has also declared a recent quarterly dividend, which was paid out on September 27th. Shareholders who were on record as of September 5th received a dividend of $0.72 per share, amounting to an annualized dividend of $2.88, yielding a dividend percentage of 3.23%. This marks an increase from the prior quarterly dividend of $0.71. The ex-dividend date was set for September 5th, with the company’s dividend payout ratio at 55.92%.

Recent Analyst Ratings for Principal Financial Group

Equities analysts have made various comments regarding PFG shares recently. For instance, JPMorgan Chase & Co. upgraded their rating for Principal Financial Group from "underweight" to "neutral," increasing the target price from $88.00 to $96.00 in a report on July 2nd. Citigroup also lifted their price objective from $68.00 to $70.00 while maintaining a "sell" rating on July 23rd. Barclays revised their price target upwards from $74.00 to $75.00 and assigned an "underweight" rating. In addition, Wells Fargo & Company raised their target price from $85.00 to $86.00, offering an "equal weight" rating. Lastly, Piper Sandler enhanced their price target from $85.00 to $90.00 while issuing a "neutral" rating. Currently, feedback on the stock includes two sell ratings, nine hold ratings, and one strong buy rating, according to MarketBeat’s consensus, which indicates an overall "Hold" rating and a consensus price target of $85.42.

Insights on Principal Financial Group

About Principal Financial Group

Principal Financial Group, Inc., engages in the provision of retirement solutions, asset management, and a wide range of insurance products and services for businesses, individuals, and institutional clients around the globe. The company operates through three primary segments: Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection.

investment, finance, dividend