SG Americas Securities LLC Buys New Holdings in Principal Financial Group, Inc. (NYSE:PFG)

SG Americas Securities LLC acquired a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,174 shares of the company's stock, valued at approximately $943,000.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in Principal Financial Group by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company's stock valued at $422,074,000 after acquiring an additional 52,410 shares in the last quarter. Northern Trust Corp raised its position in shares of Principal Financial Group by 9.8% in the 4th quarter. Northern Trust Corp now owns 3,662,918 shares of the company's stock worth $283,546,000 after acquiring an additional 326,604 shares in the last quarter. Norges Bank purchased a new stake in shares of Principal Financial Group during the 4th quarter worth $217,021,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Principal Financial Group by 12.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,246 shares of the company's stock valued at $145,318,000 after purchasing an additional 209,885 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in Principal Financial Group by 73.5% during the fourth quarter. Deutsche Bank AG now owns 1,482,053 shares of the company's stock valued at $114,726,000 after purchasing an additional 627,865 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PFG has been the subject of a number of recent research reports. UBS Group reduced their target price on shares of Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Morgan Stanley boosted their target price on shares of Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a report on Monday, May 19th. Barclays reduced their target price 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. Keefe, Bruyette & Woods boosted their target price on shares of Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company boosted their target price on shares of Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a report on Tuesday, April 29th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $83.85.

Principal Financial Group Stock Up 0.8%

Shares of PFG stock traded up $0.64 during trading hours on Friday, reaching $76.61. 2,262,650 shares of the company's stock were exchanged, compared to its average volume of 1,334,433. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $91.98. The stock has a market cap of $17.18 billion, a PE ratio of 11.47, a PEG 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 stock's fifty day moving average price is $76.49 and its two-hundred day moving average price is $79.76.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing analysts' consensus estimates of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same period in the previous year, the business posted $1.65 EPS. Research analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be given a $0.76 dividend. The ex-dividend date is Monday, June 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.97%. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's dividend payout ratio is currently 65.10%.

Principal Financial Group 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.