Toronto Dominion Bank Boosts Position in Principal Financial Group, Inc. (NYSE:PFG)

Toronto Dominion Bank lifted its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,241 shares of the company's stock after purchasing an additional 8,283 shares during the quarter. Toronto Dominion Bank owned 0.06% of Principal Financial Group worth $10,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Curio Wealth LLC bought a new stake in Principal Financial Group during the fourth quarter valued at approximately $29,000. BankPlus Trust Department bought a new position in shares of Principal Financial Group during the fourth quarter worth $33,000. Navigoe LLC purchased a new position in Principal Financial Group during the fourth quarter valued at $37,000. Covestor Ltd increased its holdings in Principal Financial Group by 144.3% in the 4th quarter. Covestor Ltd now owns 540 shares of the company's stock valued at $42,000 after acquiring an additional 319 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in Principal Financial Group in the 4th quarter worth $46,000. 75.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Piper Sandler raised their price objective on Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Barclays cut their price target on Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating for the company in a report on Friday, April 11th. Morgan Stanley upped their price objective on Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a report on Monday, May 19th. Wells Fargo & Company raised their target price on shares of Principal Financial Group from $68.00 to $69.00 and gave the company an "underweight" rating in a report on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Principal Financial Group currently has an average rating of "Hold" and an average target price of $83.85.

Principal Financial Group Trading Down 0.4%

NYSE PFG traded down $0.34 on Monday, hitting $77.01. 846,029 shares of the stock were exchanged, compared to its average volume of 1,323,696. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $91.98. The firm has a market capitalization 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. The stock has a fifty day moving average price of $77.70 and a two-hundred day moving average price of $80.90.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings results 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 return on equity of 14.68% and a net margin of 9.74%. During the same quarter in the previous year, the firm earned $1.65 EPS. Research analysts forecast that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be paid a $0.76 dividend. The ex-dividend date is Monday, June 2nd. This represents a $3.04 annualized dividend and a yield of 3.95%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's dividend payout ratio (DPR) 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.