GoalVest Advisory LLC Purchases 3,220 Shares of Principal Financial Group, Inc. (NYSE:PFG)

GoalVest Advisory LLC lifted its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 17.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,498 shares of the company's stock after acquiring an additional 3,220 shares during the period. GoalVest Advisory LLC's holdings in Principal Financial Group were worth $1,814,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PFG. Curio Wealth LLC bought a new position in shares of Principal Financial Group in the 4th quarter worth approximately $29,000. BankPlus Trust Department bought a new position in shares of Principal Financial Group in the 4th quarter worth approximately $33,000. Navigoe LLC bought a new position in shares of Principal Financial Group in the 4th quarter worth approximately $37,000. Ameriflex Group Inc. bought a new position in shares of Principal Financial Group in the 4th quarter worth approximately $37,000. Finally, Covestor Ltd raised 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 worth $42,000 after acquiring an additional 319 shares in the last quarter. Institutional investors own 75.08% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group cut their price target on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Keefe, Bruyette & Woods upped their price target on Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a research note 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 research note on Friday, April 11th. Morgan Stanley upped their price target on Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a research note on Monday, May 19th. Finally, Piper Sandler upped their price target on Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $83.85.

Principal Financial Group Stock Down 0.7%

PFG traded down $0.52 during trading on Friday, hitting $78.03. 1,960,651 shares of the company's stock traded hands, compared to its average volume of 1,326,446. The company's 50 day simple moving average is $77.05 and its two-hundred day simple moving average is $80.65. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $91.98. The stock has a market capitalization of $17.49 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 0.76 and a beta of 1.01.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its earnings results on Monday, April 28th. The company reported $1.81 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 period in the previous year, the company earned $1.65 EPS. 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 announced 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 represents a $3.04 annualized dividend and a yield of 3.90%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date is Monday, June 2nd. Principal Financial Group's dividend payout ratio (DPR) is currently 65.10%.

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.