First Trust Advisors LP Boosts Holdings in Principal Financial Group, Inc. (NYSE:PFG)

First Trust Advisors LP lifted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 86.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,092 shares of the company's stock after purchasing an additional 88,656 shares during the quarter. First Trust Advisors LP owned about 0.08% of Principal Financial Group worth $14,792,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Principal Financial Group by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company's stock worth $422,074,000 after acquiring an additional 52,410 shares in the last quarter. Norges Bank bought a new position in shares of Principal Financial Group in the 4th quarter worth $217,021,000. JPMorgan Chase & Co. grew its position in Principal Financial Group by 5.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company's stock valued at $211,534,000 after purchasing an additional 118,722 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Principal Financial Group by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,448,507 shares of the company's stock valued at $112,129,000 after purchasing an additional 44,818 shares in the last quarter. Finally, Amundi raised its holdings in Principal Financial Group by 24.1% during the fourth quarter. Amundi now owns 1,359,779 shares of the company's stock worth $106,511,000 after buying an additional 264,383 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock traded up $0.02 on Thursday, reaching $74.17. 967,383 shares of the company traded hands, compared to its average volume of 1,300,811. The company has a 50 day moving average of $79.81 and a 200 day moving average of $81.92. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.98. The firm has a market capitalization of $16.69 billion, a PE ratio of 11.13, a PEG ratio of 0.76 and a beta of 1.01.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its quarterly earnings data 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 in the prior year, the business earned $1.65 EPS. Equities analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors 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. This represents a $3.04 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Monday, June 2nd. Principal Financial Group's payout ratio is currently 65.10%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PFG shares. Royal Bank of Canada reissued a "sector perform" rating and set a $91.00 target price on shares of Principal Financial Group in a research report on Thursday, January 16th. Barclays dropped their target price on Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. UBS Group decreased their price target on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday. BMO Capital Markets began coverage on Principal Financial Group in a research note on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price objective on the stock. Finally, Wells Fargo & Company upped their target price on shares of Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a research note on Tuesday. Four research 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 an average rating of "Hold" and an average target price of $83.31.

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.