Lansforsakringar Fondforvaltning AB publ Makes New Investment in Principal Financial Group, Inc. (NYSE:PFG)

Lansforsakringar Fondforvaltning AB publ purchased a new stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 55,041 shares of the company's stock, valued at approximately $4,261,000.

Several other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Principal Financial Group in the 4th quarter worth approximately $217,021,000. Deutsche Bank AG grew its position in shares of Principal Financial Group by 73.5% in the 4th quarter. Deutsche Bank AG now owns 1,482,053 shares of the company's stock valued at $114,726,000 after buying an additional 627,865 shares during the last quarter. Woodline Partners LP purchased a new position in Principal Financial Group during the 4th quarter worth $28,448,000. Northern Trust Corp lifted its stake in shares of Principal Financial Group by 9.8% in the 4th quarter. Northern Trust Corp now owns 3,662,918 shares of the company's stock worth $283,546,000 after acquiring an additional 326,604 shares during the period. Finally, Amundi lifted its stake in shares of Principal Financial Group by 24.1% in the 4th quarter. Amundi now owns 1,359,779 shares of the company's stock worth $106,511,000 after acquiring an additional 264,383 shares during the period. Hedge funds and other institutional investors own 75.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of Principal Financial Group from $67.00 to $71.00 and gave the company an "underweight" rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods lifted their target price on shares of Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. Wells Fargo & Company lifted their target price on shares of Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 29th. Piper Sandler lifted their target price on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Finally, UBS Group lowered their price target on shares of Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $83.85.

Principal Financial Group Stock Performance

Principal Financial Group stock traded down $0.52 during midday trading on Friday, reaching $78.03. 1,960,651 shares of the stock traded hands, compared to its average volume of 1,329,421. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average price of $77.05 and a two-hundred day moving average price of $80.69. The firm has a market cap 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, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.98.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing analysts' consensus estimates of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same quarter last year, the business earned $1.65 earnings per share. On average, equities research analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be paid 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 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Monday, June 2nd. Principal Financial Group's dividend payout ratio is currently 65.10%.

Principal Financial Group Company 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.