Victory Capital Management Inc. lifted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 802.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,707,534 shares of the company's stock after purchasing an additional 3,296,608 shares during the quarter. Victory Capital Management Inc. owned 1.65% of Principal Financial Group worth $312,805,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in PFG. Geode Capital Management LLC increased its holdings in shares of Principal Financial Group by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company's stock worth $422,074,000 after purchasing an additional 52,410 shares during the period. Northern Trust Corp increased its stake in 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 acquiring an additional 326,604 shares during the last quarter. Norges Bank purchased a new stake in shares of Principal Financial Group in the 4th quarter valued at about $217,021,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 valued at $145,318,000 after acquiring an additional 209,885 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Principal Financial Group by 73.5% during the 4th quarter. Deutsche Bank AG now owns 1,482,053 shares of the company's stock valued at $114,726,000 after acquiring an additional 627,865 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company's stock.
Analyst Ratings Changes
PFG has been the topic of a number of research reports. Barclays raised their price target on Principal Financial Group from $76.00 to $80.00 and gave the company an "underweight" rating in a research report on Monday, July 7th. Piper Sandler upped their price objective on shares of Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Keefe, Bruyette & Woods boosted their price target on shares of Principal Financial Group from $87.00 to $90.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Morgan Stanley reaffirmed an "underweight" rating and set a $75.00 price objective (up from $71.00) on shares of Principal Financial Group in a research note on Monday. Finally, JPMorgan Chase & Co. boosted their target price on Principal Financial Group from $92.00 to $101.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $84.08.
View Our Latest Research Report on Principal Financial Group
Principal Financial Group Stock Up 1.3%
PFG stock traded up $1.01 during midday trading on Thursday, hitting $80.83. The stock had a trading volume of 509,721 shares, compared to its average volume of 1,318,746. 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 firm has a market cap of $18.12 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 0.76 and a beta of 0.99. The business has a 50-day moving average of $78.67 and a two-hundred day moving average of $79.77. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $91.98.
Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $1.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 previous year, the firm earned $1.65 EPS. As a group, equities research analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.
Principal Financial Group Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 2nd were paid a $0.76 dividend. This is a boost from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date was Monday, June 2nd. Principal Financial Group's dividend payout ratio is currently 65.10%.
Principal Financial Group Company Profile
(
Free Report)
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.
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