Federated Hermes Inc. boosted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 19.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 23,906 shares of the company's stock after buying an additional 3,901 shares during the period. Federated Hermes Inc.'s holdings in Principal Financial Group were worth $2,017,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of PFG. von Borstel & Associates Inc. bought a new stake in Principal Financial Group in the 1st quarter valued at approximately $32,000. Ameriflex Group Inc. acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at approximately $37,000. Navigoe LLC bought a new stake in shares of Principal Financial Group in the fourth quarter worth $37,000. Covestor Ltd boosted its holdings in Principal Financial Group by 144.3% during the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock worth $42,000 after purchasing an additional 319 shares during the last quarter. Finally, MorganRosel Wealth Management LLC bought a new position in Principal Financial Group in the first quarter valued at $46,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
PFG has been the subject of several analyst reports. UBS Group raised their target price on shares of Principal Financial Group from $85.00 to $87.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Wells Fargo & Company decreased their price objective on shares of Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating for the company in a research report on Wednesday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Principal Financial Group from $92.00 to $101.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Piper Sandler raised their target price 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. Finally, Keefe, Bruyette & Woods dropped their price target on Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating on the stock in a research note on Monday. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $86.70.
Read Our Latest Research Report on PFG
Principal Financial Group Trading Up 0.9%
Shares of NYSE:PFG traded up $0.69 during midday trading on Wednesday, hitting $76.81. 1,438,489 shares of the stock were exchanged, compared to its average volume of 1,426,370. The business's 50-day moving average price is $78.50 and its 200 day moving average price is $79.84. The stock has a market capitalization of $17.11 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 0.76 and a beta of 1.00. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29.
Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.97 by $0.19. 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 business earned $1.63 earnings per share. Analysts predict that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.
Principal Financial Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be issued a $0.78 dividend. The ex-dividend date is Thursday, September 4th. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a yield of 4.1%. Principal Financial Group's dividend payout ratio (DPR) is presently 62.78%.
About Principal Financial Group
(
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.
Recommended Stories

Before you consider Principal Financial Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Principal Financial Group wasn't on the list.
While Principal Financial Group currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.