Alteri Wealth LLC Purchases Shares of 3,346 Principal Financial Group, Inc. (NYSE:PFG)

Alteri Wealth LLC acquired a new position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,346 shares of the company's stock, valued at approximately $259,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PFG. Geode Capital Management LLC boosted its position in shares of Principal Financial Group by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company's stock worth $422,074,000 after buying an additional 52,410 shares during the period. Northern Trust Corp boosted its position in Principal Financial Group by 9.8% during the 4th quarter. Northern Trust Corp now owns 3,662,918 shares of the company's stock worth $283,546,000 after acquiring an additional 326,604 shares during the last quarter. Norges Bank bought a new position in shares of Principal Financial Group during the 4th quarter worth approximately $217,021,000. JPMorgan Chase & Co. raised its holdings in shares of Principal Financial Group by 5.1% in the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company's stock valued at $211,534,000 after purchasing an additional 118,722 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Principal Financial Group by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,448,507 shares of the company's stock worth $112,129,000 after purchasing an additional 44,818 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on PFG shares. Barclays decreased their target price on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. raised Principal Financial Group from a "neutral" rating to an "overweight" rating and lowered their target price for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. UBS Group reduced their price target on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. BMO Capital Markets began coverage on Principal Financial Group in a research report on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on Principal Financial Group from $68.00 to $69.00 and gave the company an "underweight" rating in a 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $83.31.

Principal Financial Group Stock Performance

PFG opened at $76.83 on Friday. 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 business has a fifty day simple moving average of $79.42 and a 200 day simple moving average of $81.65. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $91.98. The company has a market capitalization of $17.22 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The company reported $1.81 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 last year, the company earned $1.65 earnings per share. Research analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be paid a $0.76 dividend. This is a boost from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a dividend yield of 3.96%. The ex-dividend date is Monday, June 2nd. Principal Financial Group's payout ratio is 65.10%.

Principal Financial Group 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.

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