MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 3,086 Shares of Principal Financial Group, Inc. (NYSE:PFG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,423 shares of the company's stock after acquiring an additional 3,086 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Principal Financial Group were worth $4,445,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in shares of Principal Financial Group by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company's stock worth $422,074,000 after buying an additional 52,410 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Principal Financial Group by 9.8% during the 4th quarter. Northern Trust Corp now owns 3,662,918 shares of the company's stock worth $283,546,000 after buying an additional 326,604 shares during the last quarter. Norges Bank acquired a new stake in shares of Principal Financial Group during the 4th quarter worth about $217,021,000. JPMorgan Chase & Co. lifted its stake in shares of Principal Financial Group by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company's stock worth $211,534,000 after buying an additional 118,722 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Principal Financial Group by 73.5% during the 4th quarter. Deutsche Bank AG now owns 1,482,053 shares of the company's stock worth $114,726,000 after buying an additional 627,865 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PFG. Wells Fargo & Company raised 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 note on Tuesday, April 29th. Morgan Stanley lifted their price objective on shares of Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a research note on Monday, May 19th. UBS Group dropped their price objective on shares of 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. Barclays dropped their price objective on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. Finally, Piper Sandler lifted their price objective on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. 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, Principal Financial Group currently has an average rating of "Hold" and a consensus price target of $83.85.

Principal Financial Group Price Performance

PFG stock traded down $0.34 during mid-day trading on Friday, hitting $77.01. The stock had a trading volume of 846,029 shares, compared to its average volume of 1,323,696. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.98. The firm has a market capitalization of $17.26 billion, a P/E ratio of 11.53, a P/E/G ratio of 0.76 and a beta of 1.01. The firm has a fifty day simple moving average of $77.70 and a 200 day simple moving average of $80.94.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its earnings results on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing the consensus estimate 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 in the prior year, the business earned $1.65 earnings per share. As a group, research analysts forecast that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be issued 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 annualized dividend and a yield of 3.95%. The ex-dividend date is Monday, June 2nd. Principal Financial Group's dividend payout ratio (DPR) is currently 65.10%.

About Principal Financial Group

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.