IFM Investors Pty Ltd lifted its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 10.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,574 shares of the company's stock after purchasing an additional 4,760 shares during the quarter. IFM Investors Pty Ltd's holdings in Principal Financial Group were worth $4,344,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in PFG. Curio Wealth LLC acquired a new stake in shares of Principal Financial Group during the 4th quarter worth approximately $29,000. Navigoe LLC purchased a new stake in Principal Financial Group in the 4th quarter worth $37,000. Ameriflex Group Inc. purchased a new stake in Principal Financial Group in the 4th quarter worth $37,000. Covestor Ltd increased its holdings in 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. Finally, MorganRosel Wealth Management LLC purchased a new stake in Principal Financial Group in the 1st quarter worth $46,000. Institutional investors and hedge funds own 75.08% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the stock. Barclays boosted their price target on shares of Principal Financial Group from $76.00 to $80.00 and gave the stock an "underweight" rating in a report on Monday. Morgan Stanley boosted their price target on shares of Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a report on Monday, May 19th. Piper Sandler boosted their price target on shares of Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Wells Fargo & Company boosted their price target on shares of Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a report on Tuesday, April 29th. Finally, UBS Group lowered 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 note on Tuesday, April 29th. 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 company's stock. Based on data from MarketBeat, Principal Financial Group has an average rating of "Hold" and an average target price of $83.69.
Get Our Latest Stock Report on PFG
Principal Financial Group Trading Up 1.6%
Shares of NYSE PFG traded up $1.28 during trading on Tuesday, hitting $81.47. 96,905 shares of the company were exchanged, compared to its average volume of 1,433,842. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $91.97. 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 fifty day moving average price of $77.98 and a 200-day moving average price of $79.66. The firm has a market capitalization of $18.26 billion, a PE ratio of 12.20, a P/E/G ratio of 0.76 and a beta of 0.99.
Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings data 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 previous year, the business earned $1.65 earnings per share. As a group, equities research analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current year.
Principal Financial Group Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Monday, June 2nd were issued a $0.76 dividend. 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 yield of 3.73%. The ex-dividend date of this dividend was Monday, June 2nd. Principal Financial Group's payout ratio is 65.10%.
About Principal Financial Group
(
Free Report)
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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