AMG National Trust Bank Boosts Position in Principal Financial Group, Inc. $PFG

Key Points

• AMG National Trust Bank increased its stake in Principal Financial Group by 28.6% in Q4, buying 30,051 shares to hold 135,195 shares worth about $11.93 million (roughly 0.06% of the company).
• Dividend raised: Principal boosted its quarterly payout to $0.82 (annualized $3.28) for a ~3.3% yield, with an ex-dividend/record date of June 1 and payment on June 26.
• Fundamentals and analyst view: PFG has a $21.61 billion market cap, a P/E of 14.27 and reported $2.20 EPS last quarter; analysts have a consensus "Hold" rating with an average price target of $95.33 versus a recent price near $99.74.

AMG National Trust Bank raised its stake in Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) by 28.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,195 shares of the company's stock after buying an additional 30,051 shares during the period. AMG National Trust Bank owned about 0.06% of Principal Financial Group worth $11,926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Principal Financial Group during the 4th quarter worth $26,000. Quest 10 Wealth Builders Inc. raised its holdings in shares of Principal Financial Group by 343.6% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company's stock valued at $30,000 after acquiring an additional 268 shares in the last quarter. FWL Investment Management LLC purchased a new stake in Principal Financial Group in the third quarter worth about $32,000. ST Germain D J Co. Inc. grew its holdings in Principal Financial Group by 66.5% during the 4th quarter. ST Germain D J Co. Inc. now owns 398 shares of the company's stock worth $35,000 after acquiring an additional 159 shares in the last quarter. Finally, Rialto Wealth Management LLC increased its position in Principal Financial Group by 3,754.5% during the 4th quarter. Rialto Wealth Management LLC now owns 424 shares of the company's stock valued at $37,000 after purchasing an additional 413 shares during the period. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Performance

PFG opened at $99.74 on Tuesday. The company has a market cap of $21.61 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 0.92 and a beta of 0.87. The company has a quick ratio of 0.27, a current ratio of 0.24 and a debt-to-equity ratio of 0.33. The firm's 50-day moving average price is $91.89 and its 200-day moving average price is $88.90. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $101.54.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last released its earnings results on Wednesday, February 18th. The company reported $2.20 earnings per share for the quarter. The company had revenue of $4.58 billion for the quarter. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. As a group, equities analysts anticipate that Principal Financial Group, Inc. will post 9.31 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 1st will be issued a $0.82 dividend. This is a boost from Principal Financial Group's previous quarterly dividend of $0.80. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, June 1st. Principal Financial Group's dividend payout ratio is currently 45.78%.

Insider Activity

In related news, CEO Deanna D. Strable-Soethout sold 9,300 shares of Principal Financial Group stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $95.12, for a total transaction of $884,616.00. Following the completion of the sale, the chief executive officer owned 144,168 shares of the company's stock, valued at $13,713,260.16. The trade was a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on PFG. Morgan Stanley lifted their price objective on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an "equal weight" rating in a report on Tuesday, March 3rd. Wells Fargo & Company cut their price target on Principal Financial Group from $91.00 to $87.00 and set an "equal weight" rating on the stock in a report on Friday, April 10th. Weiss Ratings upgraded Principal Financial Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, December 29th. UBS Group lifted their target price on Principal Financial Group from $92.00 to $94.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. Finally, Barclays increased their price target on shares of Principal Financial Group from $85.00 to $87.00 and gave the company an "underweight" rating in a research report on Friday. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $95.33.

Principal Financial Group Profile

Principal Financial Group NASDAQ: PFG is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm's business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal's product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.

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