Brooklyn FI LLC Buys Shares of 3,648 Principal Financial Group, Inc. (NYSE:PFG)

Brooklyn FI LLC bought a new position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,648 shares of the company's stock, valued at approximately $307,000.

Several other large investors also recently modified their holdings of PFG. Norges Bank purchased a new position in shares of Principal Financial Group during the fourth quarter valued at about $217,021,000. Deutsche Bank AG lifted its holdings in Principal Financial Group by 73.5% in the fourth quarter. Deutsche Bank AG now owns 1,482,053 shares of the company's stock worth $114,726,000 after buying an additional 627,865 shares during the period. Woodline Partners LP bought a new stake in Principal Financial Group during the 4th quarter valued at approximately $28,448,000. Northern Trust Corp grew its holdings in shares of 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 period. Finally, Amundi grew its holdings in shares of Principal Financial Group by 24.1% during the 4th quarter. Amundi now owns 1,359,779 shares of the company's stock worth $106,511,000 after acquiring an additional 264,383 shares during the period. 75.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PFG. Keefe, Bruyette & Woods lifted their price target on Principal Financial Group from $86.00 to $87.00 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. UBS Group reduced their target price 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 increased their price target on shares of Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a research note on Tuesday, April 29th. Barclays lowered their price target 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. Finally, Piper Sandler upped their price objective on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $83.85.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock traded down $1.22 during trading on Wednesday, hitting $77.67. 1,069,057 shares of the company's stock traded hands, compared to its average volume of 1,322,797. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $91.98. The business has a 50-day simple moving average of $77.34 and a 200-day simple moving average of $80.81. The stock has a market capitalization of $17.41 billion, a P/E ratio of 11.63, a PEG ratio of 0.76 and a beta of 1.01. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its earnings results on Monday, April 28th. The company reported $1.81 earnings per share (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 in the prior year, the firm posted $1.65 EPS. As a group, analysts forecast that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.91%. 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 65.10%.

About Principal Financial Group

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.