Impact Partnership Wealth LLC Acquires 11,647 Shares of Principal Financial Group, Inc. $PFG

Key Points

• Impact Partnership Wealth LLC increased its stake in Principal Financial Group by 264.3% in the first quarter, buying 11,647 additional shares and bringing its total holdings to 16,053 shares worth about $1.45 million.
• Principal Financial Group reported better-than-expected EPS of $2.07 for the quarter, though revenue came in below analyst estimates at $3.53 billion. The company also has a current consensus analyst rating of Hold with an average price target of $100.90.
• The company raised its quarterly dividend to $0.82 per share from $0.80, implying an annualized dividend of $3.28 and a yield of about 3.0%.

Impact Partnership Wealth LLC raised its holdings in shares of Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) by 264.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,053 shares of the company's stock after purchasing an additional 11,647 shares during the period. Impact Partnership Wealth LLC's holdings in Principal Financial Group were worth $1,447,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. National Wealth Management Group LLC bought a new position in Principal Financial Group during the 4th quarter valued at about $998,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Principal Financial Group in the fourth quarter worth approximately $32,473,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Principal Financial Group by 47.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 50,386 shares of the company's stock valued at $4,630,000 after purchasing an additional 16,171 shares during the last quarter. LBP AM SA bought a new position in Principal Financial Group during the fourth quarter valued at approximately $10,400,000. Finally, VCI Wealth Management LLC bought a new position in Principal Financial Group during the fourth quarter valued at approximately $1,650,000. Institutional investors own 75.08% of the company's stock.

Principal Financial Group Trading Down 0.7%

Shares of Principal Financial Group stock opened at $107.78 on Wednesday. Principal Financial Group, Inc. has a 1-year low of $75.00 and a 1-year high of $112.45. The company's fifty day simple moving average is $103.89 and its 200-day simple moving average is $95.66. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a market capitalization of $23.28 billion, a PE ratio of 15.42, a P/E/G ratio of 1.08 and a beta of 0.88.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.07 EPS for the quarter, topping the consensus estimate of $2.01 by $0.06. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $4.11 billion. During the same period in the prior year, the business posted $1.81 EPS. As a group, equities analysts anticipate that Principal Financial Group, Inc. will post 9.37 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Monday, June 1st were given a $0.82 dividend. The ex-dividend date was Monday, June 1st. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.80. This represents a $3.28 dividend on an annualized basis and a yield of 3.0%. Principal Financial Group's dividend payout ratio (DPR) is currently 46.92%.

Insider Activity

In other news, General Counsel George Djurasovic sold 2,571 shares of Principal Financial Group stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total transaction of $259,233.93. Following the transaction, the general counsel directly owned 21,906 shares of the company's stock, valued at $2,208,781.98. The trade was a 10.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wee Yee Cheong sold 9,183 shares of the business's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $101.26, for a total value of $929,870.58. Following the transaction, the insider owned 77,188 shares of the company's stock, valued at approximately $7,816,056.88. This trade represents a 10.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 28,317 shares of company stock worth $2,884,902 in the last ninety days. Corporate insiders own 1.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PFG shares. Weiss Ratings downgraded shares of Principal Financial Group from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, May 1st. Bank of America reissued an "underperform" rating and set a $95.00 price target (down from $98.00) on shares of Principal Financial Group in a report on Wednesday, June 24th. Evercore set a $108.00 price objective on Principal Financial Group in a report on Monday, April 27th. Piper Sandler upped their price objective on Principal Financial Group from $113.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, June 24th. Finally, UBS Group increased their target price on Principal Financial Group from $92.00 to $94.00 and gave the company a "neutral" rating in a report on Thursday, April 9th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Principal Financial Group currently has an average rating of "Hold" and a consensus target price of $100.90.

About Principal Financial Group

Principal Financial Group NASDAQ: PFG is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm's business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal's product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.

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