Principal Financial Group, Inc. $PFG Shares Bought by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC raised its stake in Principal Financial Group by 47.3% in Q4, buying an additional 16,171 shares to hold 50,386 shares worth $4.63 million.
• Several large institutions — including Bank of America, Invesco, UBS, Amundi and Norges Bank — also materially increased or established positions, leaving institutional investors with about 75.08% of the company’s stock.
• Analysts carry a consensus Hold rating with a $94.22 target; PFG trades near $88.23, has a $19.13B market cap and PE of 16.74, reported $2.20 EPS last quarter, and pays a $0.80 quarterly dividend (≈3.6% yield).

Wealth Enhancement Advisory Services LLC raised its stake in Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) by 47.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,386 shares of the company's stock after buying an additional 16,171 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Principal Financial Group were worth $4,630,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PFG. Bank of America Corp DE grew its holdings in shares of Principal Financial Group by 9.6% in the second quarter. Bank of America Corp DE now owns 12,370,852 shares of the company's stock valued at $982,617,000 after purchasing an additional 1,083,991 shares during the period. Invesco Ltd. increased its position in Principal Financial Group by 23.2% during the third quarter. Invesco Ltd. now owns 3,376,797 shares of the company's stock worth $279,970,000 after purchasing an additional 636,334 shares during the last quarter. Norges Bank purchased a new position in Principal Financial Group during the second quarter worth about $227,098,000. UBS Group AG boosted its holdings in Principal Financial Group by 62.3% in the 3rd quarter. UBS Group AG now owns 2,023,880 shares of the company's stock valued at $167,800,000 after purchasing an additional 776,997 shares during the last quarter. Finally, Amundi boosted its holdings in Principal Financial Group by 57.6% in the 2nd quarter. Amundi now owns 1,791,246 shares of the company's stock valued at $144,213,000 after purchasing an additional 654,408 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PFG. Morgan Stanley raised their price target on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 3rd. Bank of America increased their price objective on Principal Financial Group from $95.00 to $96.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 10th. Weiss Ratings raised Principal Financial Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, December 29th. UBS Group lifted their target price on Principal Financial Group from $88.00 to $92.00 and gave the company a "neutral" rating in a research report on Thursday, January 8th. Finally, Keefe, Bruyette & Woods reaffirmed a "hold" rating and issued a $92.00 price target on shares of Principal Financial Group in a research note on Thursday, March 26th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $94.22.

Principal Financial Group Price Performance

PFG stock opened at $88.23 on Tuesday. The business's fifty day moving average price is $91.63 and its 200 day moving average price is $87.29. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $97.88. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $19.13 billion, a PE ratio of 16.74, a P/E/G ratio of 0.81 and a beta of 0.87.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last announced its earnings results on Wednesday, February 18th. The company reported $2.20 EPS for the quarter. The company had revenue of $4.58 billion during the quarter. Principal Financial Group had a return on equity of 16.09% and a net margin of 7.58%.

Principal Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Wednesday, March 11th were issued a $0.80 dividend. The ex-dividend date was Wednesday, March 11th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.6%. Principal Financial Group's payout ratio is 60.72%.

Insider Buying and Selling at Principal Financial Group

In related news, CEO Deanna D. Strable-Soethout sold 9,300 shares of the company's stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $95.12, for a total transaction of $884,616.00. Following the sale, the chief executive officer directly owned 144,168 shares of the company's stock, valued at $13,713,260.16. This represents a 6.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 24,965 shares of company stock valued at $2,352,460 in the last ninety days. Insiders own 1.08% of the company's stock.

About Principal Financial Group

Principal Financial Group NASDAQ: PFG is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm's business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal's product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.

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