GAMMA Investing LLC Boosts Position in Principal Financial Group, Inc. (NYSE:PFG)

GAMMA Investing LLC increased its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 11,781.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 478,715 shares of the company's stock after buying an additional 474,686 shares during the period. GAMMA Investing LLC owned 0.21% of Principal Financial Group worth $40,389,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PFG. Curio Wealth LLC purchased a new position in shares of Principal Financial Group during the 4th quarter worth approximately $29,000. BankPlus Trust Department purchased a new stake in Principal Financial Group in the fourth quarter worth $33,000. Ameriflex Group Inc. purchased a new stake in Principal Financial Group in the fourth quarter worth $37,000. Navigoe LLC bought a new position in Principal Financial Group in the fourth quarter worth $37,000. Finally, Covestor Ltd lifted its position in Principal Financial Group by 144.3% during the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock valued at $42,000 after buying an additional 319 shares during the period. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PFG shares. Piper Sandler upped their target price on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their price objective on shares of Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Morgan Stanley raised their target price 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. Wells Fargo & Company lifted their target price on shares of Principal Financial Group from $68.00 to $69.00 and gave the company an "underweight" rating in a report on Tuesday, April 29th. Finally, UBS Group cut their price target 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. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $83.85.

Principal Financial Group Stock Up 1.0%

Shares of Principal Financial Group stock traded up $0.78 on Friday, reaching $76.72. The company's stock had a trading volume of 483,703 shares, compared to its average volume of 1,323,719. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.98. The firm's fifty day simple moving average is $76.42 and its two-hundred day simple moving average is $80.42. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $17.20 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 0.76 and a beta of 1.01.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings data 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 earned $1.65 earnings per share. Equities analysts anticipate that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be issued a $0.76 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.04 annualized dividend and a yield of 3.96%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's dividend payout ratio (DPR) is currently 65.10%.

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.