Groupe la Francaise Buys 5,139 Shares of Principal Financial Group, Inc. $PFG

Key Points

• Groupe la Francaise increased its stake in Principal Financial Group by 15.8%, now owning 37,705 shares worth approximately $3.2 million.
• Principal Financial Group recently announced a quarterly dividend increase to $0.78, reflecting a 3.9% yield and a payout ratio of 62.78%.
• The company reported earnings per share of $2.16 for the last quarter, surpassing analyst expectations of $1.97, with a net margin of 9.74%.

Groupe la Francaise grew its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 15.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,705 shares of the company's stock after purchasing an additional 5,139 shares during the period. Groupe la Francaise's holdings in Principal Financial Group were worth $3,208,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PFG. Guggenheim Capital LLC lifted its stake in Principal Financial Group by 4.2% during the fourth quarter. Guggenheim Capital LLC now owns 6,694 shares of the company's stock worth $518,000 after purchasing an additional 271 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Principal Financial Group by 25.9% during the 4th quarter. NewEdge Advisors LLC now owns 6,048 shares of the company's stock valued at $468,000 after acquiring an additional 1,245 shares during the period. Marshall Wace LLP purchased a new stake in Principal Financial Group during the 4th quarter valued at about $630,000. First Trust Advisors LP increased its stake in Principal Financial Group by 86.5% in the 4th quarter. First Trust Advisors LP now owns 191,092 shares of the company's stock worth $14,792,000 after purchasing an additional 88,656 shares during the period. Finally, Stifel Financial Corp increased its stake in Principal Financial Group by 3.8% in the 4th quarter. Stifel Financial Corp now owns 14,638 shares of the company's stock worth $1,133,000 after purchasing an additional 530 shares during the period. Institutional investors own 75.08% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on PFG. Keefe, Bruyette & Woods dropped their price target on shares of Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating for the company in a research report on Monday, August 4th. Wells Fargo & Company dropped their price target 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. Piper Sandler upped their price target on Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. JPMorgan Chase & Co. upped their price target on Principal Financial Group from $92.00 to $101.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Barclays upped their target price on Principal Financial Group from $76.00 to $80.00 and gave the stock an "underweight" rating in a report on Monday, July 7th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $86.90.

Principal Financial Group Stock Performance

NYSE PFG traded up $0.53 on Friday, hitting $80.75. 216,361 shares of the company traded hands, compared to its average volume of 1,387,714. The company has a market capitalization of $17.99 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 0.76 and a beta of 1.00. 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 business's 50 day moving average price is $79.05 and its 200-day moving average price is $79.43. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $91.97.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm earned $1.63 EPS. Equities analysts expect 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 will be paid on Friday, September 26th. Stockholders of record on Thursday, September 4th will be given 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 dividend yield of 3.9%. Principal Financial Group's dividend payout ratio (DPR) is presently 62.78%.

About Principal Financial Group

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.