MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $4.45 Million Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,423 shares of the company's stock after buying 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 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Curio Wealth LLC bought a new position in Principal Financial Group in the fourth quarter valued at approximately $29,000. BankPlus Trust Department bought a new position in Principal Financial Group in the fourth quarter valued at approximately $33,000. Navigoe LLC bought a new position in Principal Financial Group in the fourth quarter valued at approximately $37,000. Covestor Ltd grew its stake in Principal Financial Group by 144.3% in the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock valued at $42,000 after purchasing an additional 319 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in Principal Financial Group in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Analyst Upgrades and Downgrades

PFG has been the subject of a number of analyst reports. BMO Capital Markets initiated coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price target for the company. Morgan Stanley raised their price target on Principal Financial Group from $65.00 to $67.00 and gave the company an "underweight" rating in a research note on Tuesday, May 6th. Barclays reduced their target price on 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. Keefe, Bruyette & Woods lifted their target price on Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. Finally, Piper Sandler lifted their target price on 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 research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Principal Financial Group has a consensus rating of "Hold" and an average price target of $83.54.

Principal Financial Group Stock Performance

PFG opened at $81.55 on Monday. The business has a fifty day simple moving average of $78.08 and a 200 day simple moving average of $81.08. The company has a market capitalization of $18.28 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $91.98. 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 results on Monday, April 28th. The company reported $1.81 earnings per share (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 period in the prior year, the company earned $1.65 earnings per share. Research analysts expect 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 will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be paid a $0.76 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a yield of 3.73%. Principal Financial Group's payout ratio is 65.10%.

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.

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