Principal Financial Group, Inc. (NYSE:PFG) Shares Bought by Pinion Investment Advisors LLC

Pinion Investment Advisors LLC grew its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 128.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,042 shares of the company's stock after buying an additional 12,962 shares during the period. Pinion Investment Advisors LLC's holdings in Principal Financial Group were worth $1,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Curio Wealth LLC purchased a new position in shares of Principal Financial Group in the fourth quarter valued at $29,000. BankPlus Trust Department bought a new stake in shares of Principal Financial Group during the fourth quarter worth $33,000. Navigoe LLC bought a new stake in shares of Principal Financial Group during the fourth quarter worth $37,000. Ameriflex Group Inc. bought a new stake in shares of Principal Financial Group during the fourth quarter worth $37,000. Finally, Covestor Ltd raised its holdings in shares of 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 acquiring an additional 319 shares in the last quarter. Institutional investors own 75.08% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. UBS Group decreased their price objective on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Barclays decreased their price objective on Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating for the company in a report on Friday, April 11th. Keefe, Bruyette & Woods lifted their price objective on Principal Financial Group from $86.00 to $87.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Piper Sandler lifted their price objective on Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Finally, 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 report on Tuesday, April 29th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $83.85.

Principal Financial Group Trading Down 1.5%

Shares of NYSE:PFG traded down $1.12 during midday trading on Friday, reaching $75.90. 1,263,212 shares of the company's stock were exchanged, compared to its average volume of 1,330,818. The firm's 50 day simple moving average is $76.32 and its two-hundred day simple moving average is $80.00. 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 cap of $17.02 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 0.76 and a beta of 1.00. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.98.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its earnings results on Monday, April 28th. The company reported $1.81 earnings per share 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 last year, the company earned $1.65 earnings per share. As a group, sell-side analysts forecast 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. Stockholders of record on Monday, June 2nd will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Monday, June 2nd. This is a boost from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's dividend payout ratio (DPR) is presently 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.