Massachusetts Financial Services Co. MA Boosts Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Massachusetts Financial Services Co. MA increased its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 29.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 591,970 shares of the company's stock after purchasing an additional 134,828 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.26% of Principal Financial Group worth $49,945,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Apollon Wealth Management LLC lifted its holdings in Principal Financial Group by 11.2% during the first quarter. Apollon Wealth Management LLC now owns 5,723 shares of the company's stock worth $483,000 after acquiring an additional 577 shares during the period. Hohimer Wealth Management LLC raised its stake in shares of Principal Financial Group by 1.3% in the first quarter. Hohimer Wealth Management LLC now owns 25,035 shares of the company's stock valued at $2,112,000 after buying an additional 311 shares during the period. CWM LLC raised its stake in shares of Principal Financial Group by 46.3% in the first quarter. CWM LLC now owns 19,010 shares of the company's stock valued at $1,604,000 after buying an additional 6,017 shares during the period. Xponance Inc. grew its position in shares of Principal Financial Group by 2.9% in the first quarter. Xponance Inc. now owns 107,653 shares of the company's stock valued at $9,083,000 after purchasing an additional 3,006 shares in the last quarter. Finally, Cerity Partners LLC grew its position in shares of Principal Financial Group by 19.2% in the first quarter. Cerity Partners LLC now owns 34,782 shares of the company's stock valued at $2,935,000 after purchasing an additional 5,603 shares in the last quarter. Institutional investors own 75.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PFG shares. Piper Sandler lifted their price target on Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Morgan Stanley reissued an "underweight" rating and issued a $75.00 target price (up previously from $71.00) on shares of Principal Financial Group in a research report on Monday, July 14th. JPMorgan Chase & Co. upped their price target on Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company upped their price target on Principal Financial Group from $69.00 to $73.00 and gave the stock an "underweight" rating in a research note on Thursday, July 10th. Finally, Barclays increased their target price on Principal Financial Group from $76.00 to $80.00 and gave the company an "underweight" rating in a research note on Monday, July 7th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $84.82.

Principal Financial Group Price Performance

Principal Financial Group stock traded down $2.32 during midday trading on Monday, reaching $78.74. The company had a trading volume of 1,446,521 shares, compared to its average volume of 1,317,579. The company has a market capitalization of $17.65 billion, a P/E ratio of 11.79, a P/E/G ratio of 0.76 and a beta of 0.99. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $91.98. The firm's fifty day simple moving average is $78.76 and its 200-day simple moving average is $79.86. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings data 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 quarter last year, the company posted $1.65 earnings per share. As a group, equities analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Monday, June 2nd were issued a dividend of $0.76 per share. This is a boost from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a yield of 3.86%. The ex-dividend date was Monday, June 2nd. Principal Financial Group's dividend payout ratio is currently 65.10%.

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.