VCI Wealth Management LLC Invests $1.65 Million in Principal Financial Group, Inc. $PFG

Key Points

• VCI Wealth Management opened a new position in Principal Financial Group (NASDAQ: PFG), acquiring 18,711 shares in Q4 valued at about $1.65 million.
• Principal pays a quarterly dividend of $0.80 (annualized $3.20) for a 3.3% yieldP/E of 18.25 with a market cap of $20.84 billion.
• Insiders have been net sellers recently (CEO Deanna Strable-Soethout sold 9,300 shares; 24,665 shares sold in the last 90 days) even as 75.08% of the stock is held by institutions and analysts' consensus is a Hold with an average target of $93.44.

VCI Wealth Management LLC acquired a new position in Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 18,711 shares of the company's stock, valued at approximately $1,650,000.

Several other institutional investors have also added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Principal Financial Group in the fourth quarter worth about $26,000. FWL Investment Management LLC purchased a new stake in shares of Principal Financial Group during the 3rd quarter valued at approximately $32,000. Rialto Wealth Management LLC boosted its holdings in Principal Financial Group by 3,754.5% in the 4th quarter. Rialto Wealth Management LLC now owns 424 shares of the company's stock worth $37,000 after buying an additional 413 shares during the period. Princeton Global Asset Management LLC grew its stake in Principal Financial Group by 315.7% in the 4th quarter. Princeton Global Asset Management LLC now owns 424 shares of the company's stock valued at $37,000 after buying an additional 322 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new stake in Principal Financial Group during the 4th quarter valued at $38,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Price Performance

NASDAQ PFG traded up $2.19 during trading hours on Friday, reaching $96.17. 1,258,642 shares of the stock traded hands, compared to its average volume of 1,561,565. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a 50 day simple moving average of $91.26 and a two-hundred day simple moving average of $88.27. Principal Financial Group, Inc. has a 1 year low of $69.80 and a 1 year high of $97.88. The company has a market cap of $20.84 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 0.86 and a beta of 0.87.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $2.20 EPS for the quarter. The firm had revenue of $4.58 billion for the quarter. Principal Financial Group had a return on equity of 16.09% and a net margin of 7.58%.

Principal Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Wednesday, March 11th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $3.20 annualized dividend and a dividend yield of 3.3%. Principal Financial Group's dividend payout ratio (DPR) is currently 60.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Piper Sandler lifted their price target on Principal Financial Group from $94.00 to $100.00 and gave the company an "overweight" rating in a research report on Tuesday, December 23rd. Morgan Stanley upped their price target on Principal Financial Group from $93.00 to $95.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 3rd. Wells Fargo & Company decreased their target price on shares of Principal Financial Group from $91.00 to $87.00 and set an "equal weight" rating on the stock in a report on Friday, April 10th. UBS Group boosted their price target on shares of Principal Financial Group from $92.00 to $94.00 and gave the company a "neutral" rating in a research report on Thursday, April 9th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and set a $103.00 price objective on shares of Principal Financial Group in a research note on Monday, January 5th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Principal Financial Group has an average rating of "Hold" and an average price target of $93.44.

Insider Buying and Selling

In other Principal Financial Group news, CEO Deanna D. Strable-Soethout sold 9,300 shares of the business's stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $95.12, for a total value of $884,616.00. Following the completion of the sale, the chief executive officer directly owned 144,168 shares of the company's stock, valued at $13,713,260.16. The trade was a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 24,665 shares of company stock valued at $2,324,710. 1.08% of the stock is owned by company insiders.

Principal Financial Group Company Profile

Principal Financial Group NASDAQ: PFG is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm's business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal's product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.

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