Alteri Wealth LLC Invests $259,000 in Principal Financial Group, Inc. (NYSE:PFG)

Alteri Wealth LLC acquired a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,346 shares of the company's stock, valued at approximately $259,000.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Principal Financial Group by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company's stock valued at $422,074,000 after acquiring an additional 52,410 shares in the last quarter. Northern Trust Corp grew its stake in Principal Financial Group by 9.8% in the fourth quarter. Northern Trust Corp now owns 3,662,918 shares of the company's stock valued at $283,546,000 after purchasing an additional 326,604 shares in the last quarter. Norges Bank acquired a new position in Principal Financial Group in the 4th quarter worth about $217,021,000. JPMorgan Chase & Co. raised its stake in shares of Principal Financial Group by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company's stock worth $211,534,000 after purchasing an additional 118,722 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Principal Financial Group by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,448,507 shares of the company's stock valued at $112,129,000 after buying an additional 44,818 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PFG shares. Barclays reduced 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 note on Friday, April 11th. UBS Group reduced their price objective on shares of Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. BMO Capital Markets assumed coverage on Principal Financial Group in a report on Thursday, January 23rd. They set a "market perform" rating and a $93.00 target price on the stock. Royal Bank of Canada reiterated a "sector perform" rating and set a $91.00 price target on shares of Principal Financial Group in a research note on Thursday, January 16th. Finally, Piper Sandler increased their price objective on Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $83.54.

Principal Financial Group Price Performance

NYSE PFG traded up $0.23 on Friday, reaching $79.07. The company's stock had a trading volume of 367,458 shares, compared to its average volume of 1,585,503. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.97. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The firm has a market cap of $17.73 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. The business has a 50-day moving average price of $78.58 and a 200 day moving average price of $81.35.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its earnings results on Monday, April 28th. The company reported $1.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same period last year, the firm earned $1.65 earnings per share. Sell-side analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Monday, June 2nd. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's payout ratio is currently 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.