Lbp Am Sa Purchases New Stake in Principal Financial Group, Inc. $PFG

Key Points

• Lbp Am Sa acquired a new position of 117,897 shares in Principal Financial Group (NASDAQ:PFG), valued at about $10.4 million
• CEO Deanna D. Strable-Soethout sold 7,340 shares on January 30 (≈$697,300) and insiders have sold 24,665 shares (~$2.32 million) over the last quarter, with insiders now holding about 1.08% of the company.
• Analysts have an average rating of Hold with a mean price target of $93.44, and the company pays a quarterly dividend of $0.80 (annualized $3.20), a yield of approximately 3.4%.

Lbp Am Sa acquired a new position in Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 117,897 shares of the company's stock, valued at approximately $10,400,000. Lbp Am Sa owned 0.05% of Principal Financial Group as of its most recent SEC filing.

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

Insider Buying and Selling

In related news, CEO Deanna D. Strable-Soethout sold 7,340 shares of the business's stock in a transaction on Friday, January 30th. The shares were sold at an average price of $95.00, for a total value of $697,300.00. Following the sale, the chief executive officer directly owned 136,828 shares of the company's stock, valued at approximately $12,998,660. The trade was a 5.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 24,665 shares of company stock valued at $2,324,710. Insiders own 1.08% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on PFG shares. Barclays lowered their target price on shares of Principal Financial Group from $85.00 to $84.00 and set an "underweight" rating for the company in a report on Wednesday, April 8th. Wells Fargo & Company reduced their price target on Principal Financial Group from $91.00 to $87.00 and set an "equal weight" rating on the stock in a research report on Friday, April 10th. Weiss Ratings raised Principal Financial Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, December 29th. Piper Sandler increased their target price on Principal Financial Group from $94.00 to $100.00 and gave the company an "overweight" rating in a research note on Tuesday, December 23rd. Finally, Morgan Stanley raised their target price on Principal Financial Group from $93.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $93.44.

Principal Financial Group Trading Down 0.7%

NASDAQ:PFG opened at $93.98 on Friday. 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 business's 50-day simple moving average is $91.28 and its 200-day simple moving average is $88.14. Principal Financial Group, Inc. has a fifty-two week low of $69.80 and a fifty-two week high of $97.88. The stock has a market capitalization of $20.36 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 0.86 and a beta of 0.87.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last posted its earnings results on Wednesday, February 18th. The company reported $2.20 earnings per share (EPS) for the quarter. The business had revenue of $4.58 billion during the quarter. Principal Financial Group had a return on equity of 16.09% and a net margin of 7.58%.

Principal Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Wednesday, March 11th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Wednesday, March 11th. Principal Financial Group's dividend payout ratio (DPR) is presently 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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