Principal Financial Group, Inc. (NYSE:PFG) Stock Position Raised by Toronto Dominion Bank

Toronto Dominion Bank boosted its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 132,241 shares of the company's stock after purchasing an additional 8,283 shares during the period. Toronto Dominion Bank owned about 0.06% of Principal Financial Group worth $10,237,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Curio Wealth LLC purchased a new position in Principal Financial Group in the fourth quarter valued at about $29,000. BankPlus Trust Department purchased a new position in Principal Financial Group in the fourth quarter valued at about $33,000. Navigoe LLC purchased a new position in Principal Financial Group in the fourth quarter valued at about $37,000. Covestor Ltd boosted its holdings in Principal Financial Group by 144.3% in the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock valued at $42,000 after purchasing an additional 319 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in Principal Financial Group in the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 75.08% of the company's stock.

Principal Financial Group Stock Performance

Shares of NYSE PFG traded down $0.34 during mid-day trading on Friday, hitting $77.01. The company had a trading volume of 846,029 shares, compared to its average volume of 1,322,623. The stock has a market cap of $17.26 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month 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. The firm's 50 day simple moving average is $77.70 and its two-hundred day simple moving average is $80.97.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The company reported $1.81 earnings per share (EPS) 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 period in the prior year, the company posted $1.65 earnings per share. As a group, equities research analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm 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. This is a boost from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a yield of 3.95%. The ex-dividend date is Monday, June 2nd. Principal Financial Group's dividend payout ratio (DPR) is currently 65.10%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Barclays reduced 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 increased their target price on Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a report on Monday, May 19th. Piper Sandler increased their target price on Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods increased their target price on 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, UBS Group reduced their target price on 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 equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $83.85.

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.