Focus Partners Wealth Reduces Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Focus Partners Wealth reduced its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 84.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,109 shares of the company's stock after selling 58,727 shares during the period. Focus Partners Wealth's holdings in Principal Financial Group were worth $860,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Curio Wealth LLC acquired a new stake in Principal Financial Group during the 4th quarter worth $29,000. BankPlus Trust Department acquired a new stake in shares of Principal Financial Group during the fourth quarter worth about $33,000. Navigoe LLC purchased a new stake in shares of Principal Financial Group in the 4th quarter valued at about $37,000. Covestor Ltd boosted its position 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 purchasing an additional 319 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in Principal Financial Group during the 4th quarter worth approximately $46,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Price Performance

PFG stock traded down $0.01 during trading on Thursday, reaching $77.35. 826,044 shares of the company were exchanged, compared to its average volume of 1,320,143. 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 stock's 50 day moving average price is $77.96 and its 200 day moving average price is $81.04. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $91.98. The company has a market cap of $17.34 billion, a P/E ratio of 11.58, a PEG ratio of 0.76 and a beta of 1.01.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The company reported $1.81 earnings per share 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 posted $1.65 earnings per share. 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. Investors of record on Monday, June 2nd will be given a $0.76 dividend. The ex-dividend date is Monday, June 2nd. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a dividend yield of 3.93%. Principal Financial Group's payout ratio is currently 65.10%.

Analyst Ratings Changes

A number of brokerages have weighed in on PFG. Wells Fargo & Company boosted their price objective on Principal Financial Group from $68.00 to $69.00 and gave the company an "underweight" rating in a research note on Tuesday, April 29th. Barclays reduced 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. Morgan Stanley raised 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. Piper Sandler upped their target price on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Finally, BMO Capital Markets began coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They set a "market perform" rating and a $93.00 target price for the company. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target 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.