Rhumbline Advisers Acquires 36,309 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Rhumbline Advisers raised its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 474,956 shares of the company's stock after purchasing an additional 36,309 shares during the period. Rhumbline Advisers owned approximately 0.21% of Principal Financial Group worth $40,072,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Curio Wealth LLC acquired a new position in Principal Financial Group during the fourth quarter valued at approximately $29,000. BankPlus Trust Department bought a new stake in shares of Principal Financial Group during the fourth quarter worth $33,000. Ameriflex Group Inc. bought a new stake in shares of Principal Financial Group during the fourth quarter worth $37,000. Navigoe LLC bought a new stake in shares of Principal Financial Group during the fourth quarter worth $37,000. Finally, Covestor Ltd grew its stake in shares of 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 buying an additional 319 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PFG shares. Piper Sandler boosted 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 note on Wednesday, April 2nd. Keefe, Bruyette & Woods lifted their price target on Principal Financial Group from $86.00 to $87.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Wells Fargo & Company boosted their price target on Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a report on Tuesday, April 29th. Barclays dropped their price objective on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating for the company in a report on Friday, April 11th. Finally, UBS Group cut their target price on shares of Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Principal Financial Group presently has an average rating of "Hold" and an average target price of $83.85.

Principal Financial Group Trading Down 0.5%

PFG stock traded down $0.40 during trading on Thursday, hitting $75.94. The company had a trading volume of 1,208,752 shares, compared to its average volume of 1,324,408. The stock has a market cap of $17.03 billion, a PE ratio of 11.37, a PEG ratio of 0.76 and a beta of 1.01. The business has a 50-day moving average of $76.59 and a 200-day moving average of $80.49. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a one year low of $68.39 and a one year high of $91.98.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The company reported $1.81 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 prior year, the business earned $1.65 earnings per share. Research analysts predict that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.76 per share. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Monday, June 2nd. Principal Financial Group's dividend payout ratio (DPR) is presently 65.10%.

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.