Principal Financial Group, Inc. (NYSE:PFG) Stock Holdings Raised by Sound Income Strategies LLC

Sound Income Strategies LLC raised its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 3.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 236,617 shares of the company's stock after purchasing an additional 7,940 shares during the quarter. Principal Financial Group comprises approximately 1.2% of Sound Income Strategies LLC's holdings, making the stock its 24th biggest holding. Sound Income Strategies LLC owned approximately 0.11% of Principal Financial Group worth $19,963,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Principal Financial Group by 1.9% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 310,103 shares of the company's stock valued at $26,163,000 after acquiring an additional 5,906 shares in the last quarter. Greenwood Capital Associates LLC lifted its holdings in shares of Principal Financial Group by 6.3% during the 1st quarter. Greenwood Capital Associates LLC now owns 18,688 shares of the company's stock valued at $1,577,000 after acquiring an additional 1,110 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Principal Financial Group by 6.1% during the 1st quarter. Fifth Third Bancorp now owns 10,056 shares of the company's stock valued at $848,000 after acquiring an additional 581 shares in the last quarter. Focus Financial Network Inc. acquired a new position in shares of Principal Financial Group during the 1st quarter valued at $275,000. Finally, Martin Capital Partners LLC lifted its holdings in shares of Principal Financial Group by 22.3% during the 1st quarter. Martin Capital Partners LLC now owns 3,359 shares of the company's stock valued at $283,000 after acquiring an additional 612 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PFG. Morgan Stanley lifted their target price on shares of Principal Financial Group from $67.00 to $71.00 and gave the company an "underweight" rating in a report on Monday, May 19th. Piper Sandler lifted their target price on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Barclays reduced their target price on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. Keefe, Bruyette & Woods lifted their target price on shares of Principal Financial Group from $86.00 to $87.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Finally, UBS Group reduced 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 report on Tuesday, April 29th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Principal Financial Group currently has an average rating of "Hold" and a consensus target price of $83.85.

Principal Financial Group Stock Down 1.5%

PFG stock traded down $1.12 during trading on Friday, reaching $75.90. The stock had a trading volume of 1,263,212 shares, compared to its average volume of 1,330,818. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $91.98. 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 company has a market capitalization of $17.02 billion, a P/E ratio of 11.36, a PEG ratio of 0.76 and a beta of 1.00. The firm has a fifty day moving average price of $76.32 and a 200 day moving average price of $80.00.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its earnings results on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the company posted $1.65 earnings per share. On average, equities analysts anticipate that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders 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 annualized dividend and a dividend yield of 4.01%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's payout ratio is presently 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.