Woodline Partners LP Buys Shares of 367,504 Principal Financial Group, Inc. (NYSE:PFG)

Woodline Partners LP purchased a new stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 367,504 shares of the company's stock, valued at approximately $28,448,000. Woodline Partners LP owned approximately 0.16% of Principal Financial Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Curio Wealth LLC bought a new position in Principal Financial Group in the fourth quarter valued at approximately $29,000. BankPlus Trust Department bought a new position in Principal Financial Group in the fourth quarter valued at approximately $33,000. Navigoe LLC bought a new position in Principal Financial Group in the fourth quarter valued at approximately $37,000. Covestor Ltd increased its stake in Principal Financial Group by 144.3% in the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock valued at $42,000 after acquiring an additional 319 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new position in Principal Financial Group in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Price Performance

PFG traded down $0.34 on Friday, reaching $77.01. The company had a trading volume of 846,029 shares, compared to its average volume of 1,323,696. The business has a 50 day simple moving average of $77.70 and a 200 day simple moving average of $80.94. The company has a market cap of $17.26 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 0.76 and a beta of 1.01. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $91.98.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings data 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 in the previous year, the firm earned $1.65 earnings per share. As a group, sell-side analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.76 per share. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date is Monday, June 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.95%. Principal Financial Group's dividend payout ratio is presently 65.10%.

Analysts Set New Price Targets

PFG has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Barclays cut their price target on Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. UBS Group dropped their price target on shares of Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Wells Fargo & Company lifted their price target on Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a report on Tuesday, April 29th. Finally, Morgan Stanley boosted their target price on shares of Principal Financial Group from $67.00 to $71.00 and gave the company an "underweight" rating in a research note on Monday, May 19th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Principal Financial Group presently has an average rating of "Hold" and a consensus target price of $83.85.

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.