Principal Financial Group, Inc. (NYSE:PFG) Holdings Boosted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 1,721.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 148,183 shares of the company's stock after purchasing an additional 140,046 shares during the period. Assenagon Asset Management S.A. owned approximately 0.07% of Principal Financial Group worth $12,502,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PFG. Curio Wealth LLC purchased a new stake in shares of Principal Financial Group in the 4th quarter valued at $29,000. BankPlus Trust Department purchased a new stake in shares of Principal Financial Group in the 4th quarter valued at $33,000. Navigoe LLC purchased a new stake in shares of Principal Financial Group in the 4th quarter valued at $37,000. Ameriflex Group Inc. purchased a new stake in shares of Principal Financial Group in the 4th quarter valued at $37,000. Finally, Covestor Ltd boosted its holdings in shares of Principal Financial Group by 144.3% in the 4th 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. Hedge funds and other institutional investors own 75.08% of the company's stock.

Principal Financial Group Price Performance

PFG stock traded down $1.12 during trading on Friday, reaching $75.90. 1,263,212 shares of the company were exchanged, compared to its average volume of 1,329,167. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The company has a market cap of $17.02 billion, a P/E ratio of 11.36, a PEG ratio of 0.76 and a beta of 1.00. The stock's 50 day moving average price is $76.32 and its 200 day moving average price is $80.05. 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 announced 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 quarter last year, the firm posted $1.65 EPS. As a group, analysts predict that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.76 per share. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a yield of 4.01%. The ex-dividend date is Monday, June 2nd. Principal Financial Group's payout ratio is currently 65.10%.

Analyst Ratings Changes

Several research firms recently issued reports on PFG. 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 note on Friday, April 11th. Wells Fargo & Company boosted their target price on shares of Principal Financial Group from $68.00 to $69.00 and gave the company an "underweight" rating in a research note on Tuesday, April 29th. Keefe, Bruyette & Woods boosted their target price on shares of Principal Financial Group from $86.00 to $87.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Piper Sandler boosted their target price on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Finally, Morgan Stanley upped their price objective on shares of Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a research report on Monday, May 19th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Principal Financial Group currently has a consensus rating of "Hold" and an average target price of $83.85.

Principal Financial Group Company 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.