Capital Management Corp VA Raises Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Capital Management Corp VA boosted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 8.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 125,457 shares of the company's stock after acquiring an additional 9,843 shares during the period. Principal Financial Group accounts for 1.8% of Capital Management Corp VA's portfolio, making the stock its 24th largest holding. Capital Management Corp VA owned approximately 0.06% of Principal Financial Group worth $10,585,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of PFG. Geode Capital Management LLC grew its stake in shares of Principal Financial Group by 1.0% in 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 in the last quarter. Victory Capital Management Inc. grew its stake in shares of Principal Financial Group by 802.2% in the 1st quarter. Victory Capital Management Inc. now owns 3,707,534 shares of the company's stock worth $312,805,000 after buying an additional 3,296,608 shares in the last quarter. Northern Trust Corp grew its stake in shares of Principal Financial Group by 9.8% in 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 in the last quarter. Norges Bank purchased a new position in shares of Principal Financial Group in the 4th quarter worth $217,021,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Principal Financial Group by 12.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,246 shares of the company's stock worth $145,318,000 after buying an additional 209,885 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Up 0.1%

Shares of NYSE:PFG traded up $0.09 during trading hours on Friday, hitting $81.06. The company's stock had a trading volume of 867,487 shares, compared to its average volume of 1,316,593. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week 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. The company has a market capitalization of $18.17 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 0.76 and a beta of 0.99. The firm's fifty day moving average price is $78.76 and its 200 day moving average price is $79.82.

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

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 2nd were issued a $0.76 dividend. The ex-dividend date was Monday, June 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.75%. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's payout ratio is currently 65.10%.

Wall Street Analyst Weigh In

PFG has been the subject of a number of recent research reports. Piper Sandler lifted their price objective on shares of Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Keefe, Bruyette & Woods raised their target price on shares of Principal Financial Group from $87.00 to $90.00 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. Morgan Stanley restated an "underweight" rating and issued a $75.00 target price (up previously from $71.00) on shares of Principal Financial Group in a report on Monday. UBS Group lowered their target price on shares of Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Finally, Wells Fargo & Company raised their target price on shares of Principal Financial Group from $69.00 to $73.00 and gave the stock an "underweight" rating in a report on Thursday, July 10th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Principal Financial Group presently has an average rating of "Hold" and an average price target of $84.08.

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.