Royal Bank of Canada Has $82.22 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

Royal Bank of Canada lifted its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 8.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,062,128 shares of the company's stock after acquiring an additional 85,011 shares during the period. Royal Bank of Canada owned approximately 0.46% of Principal Financial Group worth $82,221,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Curio Wealth LLC acquired a new stake in Principal Financial Group during the fourth quarter worth about $29,000. BankPlus Trust Department acquired a new stake in Principal Financial Group during the fourth quarter worth about $33,000. Navigoe LLC acquired a new stake in Principal Financial Group during the fourth quarter worth about $37,000. Covestor Ltd grew its stake 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 buying an additional 319 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in Principal Financial Group during the fourth quarter worth about $46,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Trading Down 0.4%

NYSE PFG traded down $0.34 during trading hours on Friday, reaching $77.01. The company's stock had a trading volume of 846,029 shares, compared to its average volume of 1,323,696. The firm has a fifty day simple moving average of $77.70 and a 200-day simple moving average of $80.90. The stock has a market cap of $17.26 billion, a P/E ratio of 11.53, a P/E/G ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.98. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings data 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 prior year, the business posted $1.65 earnings per share. Equities 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date is Monday, June 2nd. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's dividend payout ratio (DPR) is 65.10%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PFG. Barclays reduced their price objective on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. Morgan Stanley increased their price objective on shares of Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a research note on Monday, May 19th. Wells Fargo & Company raised their price target on shares of Principal Financial Group from $68.00 to $69.00 and gave the company an "underweight" rating in a research note on Tuesday, April 29th. UBS Group reduced their price target on shares of Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods raised their price target on shares of 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. Four analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $83.85.

Principal Financial Group Company Profile

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.