Lecap Asset Management Ltd. Cuts Stake in Principal Financial Group, Inc. (NYSE:PFG)

Lecap Asset Management Ltd. decreased its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 26.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,579 shares of the company's stock after selling 5,890 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Principal Financial Group were worth $1,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of PFG. Tompkins Financial Corp purchased a new stake in shares of Principal Financial Group during the first quarter valued at approximately $55,000. SG Americas Securities LLC purchased a new stake in shares of Principal Financial Group during the first quarter valued at approximately $943,000. Quantbot Technologies LP boosted its stake in shares of Principal Financial Group by 2,064.3% during the fourth quarter. Quantbot Technologies LP now owns 148,299 shares of the company's stock valued at $11,480,000 after purchasing an additional 141,447 shares during the period. Vest Financial LLC purchased a new stake in shares of Principal Financial Group during the first quarter valued at approximately $787,000. Finally, Sound Income Strategies LLC boosted its stake in shares of Principal Financial Group by 3.5% during the first quarter. Sound Income Strategies LLC now owns 236,617 shares of the company's stock valued at $19,963,000 after purchasing an additional 7,940 shares during the period. Institutional investors own 75.08% of the company's stock.

Principal Financial Group Stock Up 1.0%

PFG traded up $0.79 during trading on Friday, reaching $79.19. The stock had a trading volume of 2,230,718 shares, compared to its average volume of 1,329,701. The stock's 50 day moving average is $77.12 and its two-hundred day moving average is $79.52. 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 company has a market capitalization of $17.75 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 0.76 and a beta of 1.00. Principal Financial Group, Inc. has a one year low of $68.39 and a one year high of $91.98.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share (EPS) 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 period in the prior year, the company posted $1.65 earnings per share. As a group, analysts expect that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Monday, June 2nd were issued a $0.76 dividend. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date was Monday, June 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.84%. Principal Financial Group's dividend payout ratio is 65.10%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Morgan Stanley increased their price objective on Principal Financial Group from $67.00 to $71.00 and gave the company an "underweight" rating in a research note on Monday, May 19th. UBS Group dropped their price objective on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Piper Sandler increased their price objective on Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their target price on Principal Financial Group from $86.00 to $87.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Finally, Barclays decreased their target price on Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating for the company in a report on Friday, April 11th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $83.85.

Principal Financial Group 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.