Voloridge Investment Management LLC Has $68.10 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

Voloridge Investment Management LLC raised its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 879,704 shares of the company's stock after purchasing an additional 17,600 shares during the period. Voloridge Investment Management LLC owned 0.38% of Principal Financial Group worth $68,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Leavell Investment Management Inc. raised its stake in shares of Principal Financial Group by 5.4% during the fourth quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company's stock worth $208,000 after buying an additional 138 shares during the last quarter. CENTRAL TRUST Co increased its stake in shares of Principal Financial Group by 9.6% in the 4th quarter. CENTRAL TRUST Co now owns 1,730 shares of the company's stock valued at $134,000 after acquiring an additional 151 shares during the last quarter. Cidel Asset Management Inc. boosted its stake in Principal Financial Group by 6.3% during the 4th quarter. Cidel Asset Management Inc. now owns 2,636 shares of the company's stock worth $204,000 after acquiring an additional 156 shares during the last quarter. Hartford Funds Management Co LLC grew its holdings in Principal Financial Group by 1.5% during the fourth quarter. Hartford Funds Management Co LLC now owns 11,241 shares of the company's stock valued at $870,000 after purchasing an additional 161 shares during the period. Finally, Argent Trust Co grew its holdings in Principal Financial Group by 0.6% during the fourth quarter. Argent Trust Co now owns 29,345 shares of the company's stock valued at $2,272,000 after purchasing an additional 161 shares during the period. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PFG has been the topic of several analyst reports. Piper Sandler increased their target price on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. UBS Group dropped their price objective on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Keefe, Bruyette & Woods lifted 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. Morgan Stanley increased their price target on Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a report on Monday, May 19th. Finally, Wells Fargo & Company raised their price target on Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 29th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $83.85.

Principal Financial Group Stock Down 0.4%

Shares of PFG stock 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 current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $17.26 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.98. The business has a 50-day moving average of $77.70 and a 200 day moving average 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 earnings per share 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 period last year, the company posted $1.65 EPS. Equities analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS 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 issued a dividend of $0.76 per share. This is a boost from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date is Monday, June 2nd. This represents a $3.04 annualized dividend and a yield of 3.95%. Principal Financial Group's dividend payout ratio is presently 65.10%.

Principal Financial Group Company 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.