Sumitomo Mitsui Trust Group Inc. Has $44.43 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 526,649 shares of the company's stock after acquiring an additional 13,483 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Principal Financial Group worth $44,433,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Curio Wealth LLC acquired a new stake in shares of Principal Financial Group in the 4th quarter valued at about $29,000. Ameriflex Group Inc. acquired a new stake in shares of Principal Financial Group in the 4th quarter valued at about $37,000. Navigoe LLC acquired a new stake in shares of Principal Financial Group in the 4th quarter valued at about $37,000. Covestor Ltd raised its stake in shares of Principal Financial Group by 144.3% in the 4th quarter. Covestor Ltd now owns 540 shares of the company's stock valued at $42,000 after purchasing an additional 319 shares during the period. Finally, Tompkins Financial Corp acquired a new stake in shares of Principal Financial Group in the 1st quarter valued at about $55,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Performance

NYSE:PFG traded down $0.32 on Wednesday, hitting $80.51. The company's stock had a trading volume of 1,200,586 shares, compared to its average volume of 1,327,828. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average of $77.46 and a two-hundred day moving average of $79.53. The firm has a market capitalization of $18.05 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 0.76 and a beta of 0.99. 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 released its quarterly earnings data 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 business posted $1.65 earnings per share. Research analysts predict 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 was Monday, June 2nd. This represents a $3.04 annualized dividend and a yield of 3.78%. Principal Financial Group's dividend payout ratio is currently 65.10%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PFG. Barclays dropped their price target on Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods lifted their price target 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. UBS Group dropped their target price on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Morgan Stanley upped their target price on Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a report on Monday, May 19th. Finally, Piper Sandler upped their target price on Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $83.85.

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.