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

Lecap Asset Management Ltd. trimmed its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 26.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the stock. Tompkins Financial Corp bought a new stake in shares of Principal Financial Group in the first quarter worth $55,000. SG Americas Securities LLC purchased a new position in Principal Financial Group in the first quarter worth about $943,000. Quantbot Technologies LP grew its stake in shares of Principal Financial Group by 2,064.3% during the 4th 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 1st quarter valued at about $787,000. Finally, Sound Income Strategies LLC lifted its stake in shares of Principal Financial Group by 3.5% in the 1st quarter. Sound Income Strategies LLC now owns 236,617 shares of the company's stock worth $19,963,000 after purchasing an additional 7,940 shares during the period. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

Principal Financial Group stock traded up $0.79 during trading hours on Friday, hitting $79.19. 2,230,718 shares of the stock traded hands, compared to its average volume of 1,335,048. The firm's 50 day moving average price is $76.98 and its 200-day moving average price is $79.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The stock 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 1 year low of $68.39 and a 1 year high of $91.98.

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

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be given a dividend of $0.76 per share. The ex-dividend date is Monday, June 2nd. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 dividend on an annualized basis and a yield of 3.84%. Principal Financial Group's payout ratio is currently 65.10%.

Analysts Set New Price Targets

PFG has been the topic of a number of recent research reports. Morgan Stanley raised their target price on Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a report on Monday, May 19th. UBS Group decreased their price objective on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Wells Fargo & Company lifted their price objective on Principal Financial Group from $68.00 to $69.00 and gave the company an "underweight" rating in a research report on Tuesday, April 29th. Piper Sandler boosted 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. Finally, Barclays decreased their target price on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $83.85.

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.