Illinois Municipal Retirement Fund Has $10.19 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

Illinois Municipal Retirement Fund raised its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,746 shares of the company's stock after buying an additional 4,189 shares during the period. Illinois Municipal Retirement Fund owned about 0.05% of Principal Financial Group worth $10,187,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new position in shares of Principal Financial Group in the fourth quarter worth approximately $908,000. IFP Advisors Inc lifted its holdings in Principal Financial Group by 20.5% during the 4th quarter. IFP Advisors Inc now owns 10,177 shares of the company's stock valued at $789,000 after buying an additional 1,729 shares in the last quarter. Sentry Investment Management LLC bought a new stake in Principal Financial Group during the 4th quarter valued at about $63,000. Whipplewood Advisors LLC purchased a new position in Principal Financial Group during the 4th quarter valued at about $54,000. Finally, Mn Services Vermogensbeheer B.V. increased its position in Principal Financial Group by 1.8% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 92,980 shares of the company's stock valued at $7,198,000 after purchasing an additional 1,600 shares during the period. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

Shares of PFG stock traded up $0.79 during trading on Friday, reaching $79.19. The company had a trading volume of 2,230,718 shares, compared to its average volume of 1,329,701. The firm's 50 day simple moving average is $77.12 and its two-hundred day simple moving average is $79.52. 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, Inc. has a one year low of $68.39 and a one year high of $91.98. The company has a market capitalization of $17.75 billion, a PE ratio of 11.85, a PEG ratio of 0.76 and a beta of 1.00.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted 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 return on equity of 14.68% and a net margin of 9.74%. During the same period in the prior year, the company posted $1.65 EPS. Sell-side analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Monday, June 2nd were paid a $0.76 dividend. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $3.04 annualized dividend and a yield of 3.84%. Principal Financial Group's dividend payout ratio is currently 65.10%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wells Fargo & Company boosted 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 report on Tuesday, April 29th. Barclays decreased their target price on shares of 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. Piper Sandler raised their price objective on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their target price on shares of Principal Financial Group from $86.00 to $87.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Finally, Morgan Stanley increased their price target on shares of Principal Financial Group from $67.00 to $71.00 and gave the company an "underweight" rating in a research note on Monday, May 19th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $83.85.

Principal Financial Group 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.