Kerusso Capital Management LLC Increases Stake in Principal Financial Group, Inc. $PFG

Key Points

• Kerusso Capital boosted its stake in Principal Financial Group by 174.2% in Q4 to 50,822 shares worth about $4.48 million, representing 2.1% of Kerusso’s portfolio; institutional investors hold roughly 75.08% of PFG.
• Dividend raised: PFG increased its quarterly dividend to $0.82 (annualized $3.28) for a yield of 3.4%, with an ex-dividend date of June 1 and payment on June 26.
• Analysts’ consensus is Hold with an average price target of $93.44 after mixed analyst moves and target revisions in the $87–$96 range.

Kerusso Capital Management LLC boosted its holdings in shares of Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) by 174.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,822 shares of the company's stock after buying an additional 32,287 shares during the quarter. Principal Financial Group accounts for 2.1% of Kerusso Capital Management LLC's investment portfolio, making the stock its 18th largest position. Kerusso Capital Management LLC's holdings in Principal Financial Group were worth $4,483,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PFG. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Principal Financial Group during the 4th quarter worth about $26,000. FWL Investment Management LLC purchased a new position in shares of Principal Financial Group in the 3rd quarter valued at about $32,000. Rialto Wealth Management LLC raised its position in shares of Principal Financial Group by 3,754.5% during the 4th quarter. Rialto Wealth Management LLC now owns 424 shares of the company's stock worth $37,000 after acquiring an additional 413 shares in the last quarter. Princeton Global Asset Management LLC raised its position in shares of Principal Financial Group by 315.7% during the 4th quarter. Princeton Global Asset Management LLC now owns 424 shares of the company's stock worth $37,000 after acquiring an additional 322 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in Principal Financial Group during the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 75.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PFG shares. Wells Fargo & Company dropped their price target on shares of Principal Financial Group from $91.00 to $87.00 and set an "equal weight" rating on the stock in a research note on Friday, April 10th. Barclays restated an "underweight" rating on shares of Principal Financial Group in a report on Tuesday. Keefe, Bruyette & Woods reaffirmed a "hold" rating and issued a $92.00 target price on shares of Principal Financial Group in a research report on Thursday, March 26th. Bank of America cut their price target on shares of Principal Financial Group from $96.00 to $92.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 14th. Finally, UBS Group boosted their price target on shares of Principal Financial Group from $92.00 to $94.00 and gave the company a "neutral" rating in a research report on Thursday, April 9th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $93.44.

Insider Transactions at Principal Financial Group

In other Principal Financial Group news, CEO Deanna D. Strable-Soethout sold 9,300 shares of the business's stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $95.12, for a total value of $884,616.00. Following the transaction, the chief executive officer directly owned 144,168 shares of the company's stock, valued at approximately $13,713,260.16. The trade was a 6.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.08% of the company's stock.

Principal Financial Group Stock Down 0.4%

PFG opened at $97.00 on Friday. The business has a 50 day moving average price of $91.53 and a two-hundred day moving average price of $88.59. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33. The company has a market cap of $21.02 billion, a PE ratio of 18.41, a P/E/G ratio of 0.90 and a beta of 0.87. Principal Financial Group, Inc. has a 52 week low of $71.54 and a 52 week high of $98.44.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last announced its earnings results on Wednesday, February 18th. The company reported $2.20 earnings per share for the quarter. The company had revenue of $4.58 billion for the quarter. Principal Financial Group had a return on equity of 16.09% and a net margin of 7.58%. As a group, research analysts anticipate that Principal Financial Group, Inc. will post 9.32 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 1st will be given a $0.82 dividend. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.80. The ex-dividend date is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 3.4%. Principal Financial Group's payout ratio is 60.72%.

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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