Waverly Advisors LLC Has $619,000 Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Waverly Advisors LLC lifted its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 115.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,993 shares of the company's stock after buying an additional 4,285 shares during the quarter. Waverly Advisors LLC's holdings in Principal Financial Group were worth $619,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PFG. Curio Wealth LLC bought a new position in Principal Financial Group during the fourth quarter worth $29,000. BankPlus Trust Department acquired a new stake in shares of Principal Financial Group during the 4th quarter worth about $33,000. Navigoe LLC bought a new stake in shares of Principal Financial Group during the 4th quarter worth about $37,000. Covestor Ltd grew its stake 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 buying an additional 319 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in Principal Financial Group in the 4th quarter valued at about $46,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Trading Down 1.5%

Shares of PFG stock traded down $1.22 during mid-day trading on Wednesday, reaching $77.67. 1,069,057 shares of the stock traded hands, compared to its average volume of 1,322,797. The company has a market cap of $17.41 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The stock's fifty day simple moving average is $77.45 and its two-hundred day simple moving average is $80.83. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $91.98.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued 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 last year, the business posted $1.65 EPS. On average, research analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be paid a $0.76 dividend. 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 dividend yield of 3.91%. Principal Financial Group's dividend payout ratio is presently 65.10%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Morgan Stanley upped their price objective on Principal Financial Group from $67.00 to $71.00 and gave the company an "underweight" rating in a report on Monday, May 19th. Piper Sandler upped their price target on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. UBS Group lowered their price target on shares of Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Barclays cut their price objective on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating for the company in a report on Friday, April 11th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently 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.