SG Americas Securities LLC Acquires 236,494 Shares of Principal Financial Group, Inc. $PFG

Key Points

• SG Americas Securities LLC increased its stake in Principal Financial Group by 2,878.1% in Q4, purchasing an additional 236,494 shares to hold 244,711 shares (about 0.11% of the company) valued at roughly $21.59 million.
• Principal Financial Group trades at a market cap of $18.87 billion with a P/E of 16.51; it reported quarterly EPS of $2.20 on $4.58 billion revenue and pays a quarterly dividend of $0.80 (annual $3.20, yield ~3.7%, payout ratio ~60.7%).
• Insiders sold 24,965 shares last quarter including CEO Deanna Strable-Soethout's sale of 9,300 shares, and analysts' consensus rating is "Hold" with an average target price of $94.22.

SG Americas Securities LLC boosted its stake in Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) by 2,878.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 244,711 shares of the company's stock after purchasing an additional 236,494 shares during the period. SG Americas Securities LLC owned about 0.11% of Principal Financial Group worth $21,586,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PFG. True Wealth Design LLC lifted its stake in shares of Principal Financial Group by 87.9% in the fourth quarter. True Wealth Design LLC now owns 511 shares of the company's stock worth $45,000 after acquiring an additional 239 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Principal Financial Group by 47.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 50,386 shares of the company's stock valued at $4,630,000 after purchasing an additional 16,171 shares during the period. NorthCrest Asset Manangement LLC bought a new position in Principal Financial Group during the 4th quarter worth approximately $320,000. Nordea Investment Management AB raised its holdings in Principal Financial Group by 22.4% during the 4th quarter. Nordea Investment Management AB now owns 59,852 shares of the company's stock worth $5,309,000 after purchasing an additional 10,950 shares during the last quarter. Finally, CWA Asset Management Group LLC lifted its position in shares of Principal Financial Group by 3.9% in the 4th quarter. CWA Asset Management Group LLC now owns 5,676 shares of the company's stock worth $501,000 after purchasing an additional 212 shares during the period. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

Shares of PFG opened at $87.01 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a 50-day moving average of $91.64 and a 200-day moving average of $87.15. The company has a market cap of $18.87 billion, a PE ratio of 16.51, a P/E/G ratio of 0.83 and a beta of 0.87. Principal Financial Group, Inc. has a one year low of $68.39 and a one year high of $97.88.

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

Principal Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Wednesday, March 11th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, March 11th. Principal Financial Group's dividend payout ratio is presently 60.72%.

Insider Buying and Selling at Principal Financial Group

In related news, CEO Deanna D. Strable-Soethout sold 9,300 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $95.12, for a total value of $884,616.00. Following the transaction, the chief executive officer directly owned 144,168 shares in the company, valued at $13,713,260.16. This trade represents a 6.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 24,965 shares of company stock worth $2,352,460 over the last quarter. 1.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Bank of America upped their price objective on shares of Principal Financial Group from $95.00 to $96.00 and gave the company a "neutral" rating in a research note on Tuesday, February 10th. Weiss Ratings upgraded shares of Principal Financial Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, December 29th. UBS Group upped their price target on shares of Principal Financial Group from $88.00 to $92.00 and gave the company a "neutral" rating in a research report on Thursday, January 8th. Barclays reiterated an "underweight" rating and set a $85.00 price target on shares of Principal Financial Group in a report on Thursday, January 8th. Finally, Piper Sandler lifted their price objective on Principal Financial Group from $94.00 to $100.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 23rd. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $94.22.

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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