Centiva Capital LP Purchases New Shares in Principal Financial Group, Inc. (NYSE:PFG)

Centiva Capital LP bought a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 42,643 shares of the company's stock, valued at approximately $3,301,000.

Other large investors also recently modified their holdings of the company. Curio Wealth LLC acquired a new stake in Principal Financial Group in the fourth quarter valued at about $29,000. BankPlus Trust Department acquired a new position in shares of Principal Financial Group during the fourth quarter worth $33,000. Navigoe LLC acquired a new stake in shares of Principal Financial Group during the 4th quarter valued at $37,000. Covestor Ltd grew its position in Principal Financial Group by 144.3% during the 4th quarter. Covestor Ltd now owns 540 shares of the company's stock worth $42,000 after acquiring an additional 319 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC increased its holdings in Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock worth $43,000 after purchasing an additional 195 shares in the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on PFG. Morgan Stanley upped their price objective on Principal Financial Group from $65.00 to $67.00 and gave the company an "underweight" rating in a research note on Tuesday, May 6th. Piper Sandler increased their target price on Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Royal Bank of Canada restated a "sector perform" rating and set a $91.00 price objective on shares of Principal Financial Group in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their price target on Principal Financial Group from $86.00 to $87.00 and gave the company a "market perform" rating in a research report on Wednesday. Finally, Wells Fargo & Company lifted their price objective on shares of Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 29th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Principal Financial Group has a consensus rating of "Hold" and an average target price of $83.54.

Principal Financial Group Price Performance

PFG stock traded up $0.06 during mid-day trading on Friday, hitting $78.90. 933,060 shares of the stock were exchanged, compared to its average volume of 1,315,237. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The stock has a market capitalization of $17.69 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.76 and a beta of 1.01. The business has a fifty day moving average price of $78.45 and a 200 day moving average price of $81.22. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.98.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The company reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter in the previous year, the business earned $1.65 EPS. On average, sell-side analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be given a $0.76 dividend. This is a boost from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.85%. Principal Financial Group's payout ratio is presently 65.10%.

About Principal Financial Group

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.