Tounjian Advisory Partners LLC Makes New Investment in Principal Financial Group, Inc. (NYSE:PFG)

Tounjian Advisory Partners LLC acquired a new position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 11,104 shares of the company's stock, valued at approximately $937,000.

A number of other hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Principal Financial Group by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company's stock worth $422,074,000 after buying an additional 52,410 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Principal Financial Group by 9.8% during the fourth quarter. Northern Trust Corp now owns 3,662,918 shares of the company's stock worth $283,546,000 after buying an additional 326,604 shares in the last quarter. Norges Bank bought a new position in shares of Principal Financial Group during the fourth quarter worth about $217,021,000. JPMorgan Chase & Co. grew its holdings in shares of Principal Financial Group by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company's stock worth $211,534,000 after buying an additional 118,722 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 worth $145,318,000 after buying an additional 209,885 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Morgan Stanley increased 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. Piper Sandler increased their price objective on Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. 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 research report on Friday, April 11th. UBS Group reduced their price target on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods increased their price target on Principal Financial Group from $86.00 to $87.00 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. Four 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 issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $83.85.

Principal Financial Group Stock Performance

Shares of PFG traded down $1.12 during mid-day trading on Friday, reaching $75.90. The company's stock had a trading volume of 1,263,212 shares, compared to its average volume of 1,329,166. 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 $17.02 billion, a P/E ratio of 11.36, a PEG ratio of 0.76 and a beta of 1.00. The business has a 50-day simple moving average of $76.20 and a two-hundred day simple moving average of $80.13. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period last year, the firm earned $1.65 earnings per share. As a group, equities research analysts anticipate that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed 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. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.01%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, June 2nd. 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.