Wealthfront Advisers LLC Purchases 5,815 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Wealthfront Advisers LLC boosted its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 10.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 63,699 shares of the company's stock after acquiring an additional 5,815 shares during the period. Wealthfront Advisers LLC's holdings in Principal Financial Group were worth $5,374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. HighTower Advisors LLC grew its stake in shares of Principal Financial Group by 8.1% in the fourth quarter. HighTower Advisors LLC now owns 14,451 shares of the company's stock worth $1,119,000 after acquiring an additional 1,080 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Principal Financial Group by 2.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 77,668 shares of the company's stock valued at $6,012,000 after purchasing an additional 1,620 shares in the last quarter. Harbour Investments Inc. lifted its holdings in Principal Financial Group by 17.6% during the fourth quarter. Harbour Investments Inc. now owns 1,838 shares of the company's stock valued at $142,000 after purchasing an additional 275 shares in the last quarter. Brooklyn FI LLC purchased a new position in Principal Financial Group during the fourth quarter valued at approximately $307,000. Finally, Vinva Investment Management Ltd lifted its holdings in shares of Principal Financial Group by 3.4% in the fourth quarter. Vinva Investment Management Ltd now owns 7,812 shares of the company's stock worth $603,000 after buying an additional 258 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Price Performance

PFG stock opened at $80.97 on Friday. 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 has a market cap of $18.15 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 0.76 and a beta of 0.99. The business has a 50 day moving average price of $78.71 and a 200 day moving average price of $79.80. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.98.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its earnings results on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing the consensus estimate 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 business posted $1.65 earnings per share. 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 business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Monday, June 2nd were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.75%. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's payout ratio is currently 65.10%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PFG shares. Wells Fargo & Company upped their price target on shares of Principal Financial Group from $69.00 to $73.00 and gave the company an "underweight" rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price objective on shares of Principal Financial Group from $87.00 to $90.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Barclays boosted their price objective on shares of Principal Financial Group from $76.00 to $80.00 and gave the company an "underweight" rating in a research report on Monday, July 7th. UBS Group cut 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 report on Tuesday, April 29th. Finally, Piper Sandler upped their price target on shares of Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Four analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Principal Financial Group presently has an average rating of "Hold" and an average target price of $84.08.

About Principal Financial Group

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.

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