Northern Trust Corp Has $283.55 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

Northern Trust Corp grew its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,662,918 shares of the company's stock after purchasing an additional 326,604 shares during the quarter. Northern Trust Corp owned approximately 1.60% of Principal Financial Group worth $283,546,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PFG. Curio Wealth LLC acquired a new position in shares of Principal Financial Group in the 4th quarter valued at $29,000. BankPlus Trust Department bought a new position in Principal Financial Group in the fourth quarter valued at approximately $33,000. Covestor Ltd lifted its position 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 acquiring an additional 319 shares in the last quarter. Sugarloaf Wealth Management LLC boosted its position in shares of Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock worth $43,000 after buying an additional 195 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in shares of Principal Financial Group during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock traded up $2.76 on Friday, hitting $76.83. The stock had a trading volume of 1,817,868 shares, compared to its average volume of 1,309,742. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $91.98. 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 $17.22 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. The business's 50 day moving average is $79.42 and its two-hundred day moving average is $81.65.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 quarter in the prior year, the company posted $1.65 earnings per share. Analysts forecast that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be issued a $0.76 dividend. The ex-dividend date is Monday, June 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.96%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's dividend payout ratio is 65.10%.

Analyst Upgrades and Downgrades

PFG has been the topic of a number of recent research reports. BMO Capital Markets started coverage on Principal Financial Group in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 target price on the stock. Barclays decreased their target price on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. Keefe, Bruyette & Woods dropped their price target on shares of Principal Financial Group from $88.00 to $86.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 29th. Piper Sandler increased 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. Finally, UBS Group lowered their price objective on shares of 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. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $83.31.

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.