Goldman Sachs Group Inc. Has $220.47 Million Stake in Principal Financial Group, Inc. $PFG

Key Points

• Goldman Sachs Group Inc. increased its stake in Principal Financial Group by 114.2%, owning 2,613,143 shares valued at approximately $220.47 million.
• Principal Financial Group declared a quarterly dividend of $0.78, raising its annualized dividend to $3.12 and achieving a dividend yield of 3.9%.
• Analysts have mixed views on Principal Financial Group, with target price changes including a decrease from $73.00 to $72.00 by Wells Fargo and an increase to $101.00 by JPMorgan Chase.

Goldman Sachs Group Inc. boosted its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 114.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,613,143 shares of the company's stock after acquiring an additional 1,393,008 shares during the quarter. Goldman Sachs Group Inc. owned 1.17% of Principal Financial Group worth $220,471,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of Principal Financial Group by 802.2% in the 1st quarter. Victory Capital Management Inc. now owns 3,707,534 shares of the company's stock valued at $312,805,000 after purchasing an additional 3,296,608 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Principal Financial Group by 12.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,246 shares of the company's stock worth $145,318,000 after buying an additional 209,885 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Principal Financial Group by 1.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,468,728 shares of the company's stock valued at $123,917,000 after buying an additional 20,221 shares during the period. Royal Bank of Canada lifted its position in shares of Principal Financial Group by 1.7% in the first quarter. Royal Bank of Canada now owns 1,080,097 shares of the company's stock valued at $91,128,000 after buying an additional 17,969 shares during the last quarter. Finally, AustralianSuper Pty Ltd boosted its stake in shares of Principal Financial Group by 34.2% during the 1st quarter. AustralianSuper Pty Ltd now owns 893,246 shares of the company's stock worth $75,363,000 after acquiring an additional 227,836 shares during the period. Institutional investors own 75.08% of the company's stock.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock opened at $80.07 on Thursday. 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 firm has a 50-day moving average of $79.35 and a 200-day moving average of $79.08. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $91.97. The stock has a market cap of $17.84 billion, a PE ratio of 11.99, a PEG ratio of 0.76 and a beta of 1.03.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.19. 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 business posted $1.63 earnings per share. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.9%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.76. The ex-dividend date is Thursday, September 4th. Principal Financial Group's dividend payout ratio is presently 62.78%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating on the stock in a report on Wednesday, July 30th. Barclays upped their price objective on shares of Principal Financial Group from $76.00 to $80.00 and gave the company an "underweight" rating in a report on Monday, July 7th. Piper Sandler raised their target price on shares of Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. JPMorgan Chase & Co. lifted their target price on shares of Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Morgan Stanley increased their price target on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an "underweight" rating in a report on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $86.90.

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.

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