NewSquare Capital LLC Decreases Holdings in Principal Financial Group, Inc. (NYSE:PFG)

NewSquare Capital LLC lessened its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 98.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,065 shares of the company's stock after selling 104,075 shares during the quarter. NewSquare Capital LLC's holdings in Principal Financial Group were worth $174,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PFG. JPMorgan Chase & Co. grew its holdings in Principal Financial Group by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company's stock valued at $211,534,000 after buying an additional 118,722 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Principal Financial Group by 29.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,533 shares of the company's stock valued at $1,827,000 after purchasing an additional 5,350 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in Principal Financial Group in the fourth quarter worth $2,988,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Principal Financial Group by 2.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 24,194 shares of the company's stock valued at $1,873,000 after purchasing an additional 489 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in Principal Financial Group during the fourth quarter valued at $46,000. Institutional investors own 75.08% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on PFG. 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. Piper Sandler lifted their price target on Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. UBS Group reduced 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. Keefe, Bruyette & Woods raised their price objective on Principal Financial Group from $86.00 to $87.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Finally, Barclays cut their target price on Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a research report on Friday, April 11th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $83.85.

Principal Financial Group Stock Down 0.1%

Shares of NYSE PFG traded down $0.08 during midday trading on Tuesday, reaching $76.76. 1,143,230 shares of the company's stock traded hands, compared to its average volume of 1,323,963. The company has a market cap of $17.21 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 0.76 and a beta of 1.00. The stock's 50 day simple moving average is $76.07 and its 200-day simple moving average is $80.25. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. 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 earnings results on Monday, April 28th. The company reported $1.81 earnings per share 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 previous year, the business posted $1.65 EPS. On average, analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be paid 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 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Monday, June 2nd. Principal Financial Group's dividend 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.