Principal Financial Group, Inc. (NYSE:PFG) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 13.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,924 shares of the company's stock after purchasing an additional 9,429 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Principal Financial Group were worth $6,445,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Ellevest Inc. boosted its holdings in shares of Principal Financial Group by 3.3% during the 3rd quarter. Ellevest Inc. now owns 4,644 shares of the company's stock worth $335,000 after purchasing an additional 149 shares during the last quarter. Ronald Blue Trust Inc. increased its position in shares of Principal Financial Group by 26.6% during the third quarter. Ronald Blue Trust Inc. now owns 713 shares of the company's stock worth $54,000 after acquiring an additional 150 shares during the period. Merit Financial Group LLC increased its position in shares of Principal Financial Group by 2.3% during the third quarter. Merit Financial Group LLC now owns 6,947 shares of the company's stock worth $501,000 after acquiring an additional 153 shares during the period. Quent Capital LLC increased its position in shares of Principal Financial Group by 15.5% during the fourth quarter. Quent Capital LLC now owns 1,185 shares of the company's stock worth $93,000 after acquiring an additional 159 shares during the period. Finally, IHT Wealth Management LLC increased its position in shares of Principal Financial Group by 6.1% during the second quarter. IHT Wealth Management LLC now owns 2,886 shares of the company's stock worth $219,000 after acquiring an additional 167 shares during the period. Hedge funds and other institutional investors own 75.08% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on PFG shares. Wells Fargo & Company upped their price objective on Principal Financial Group from $86.00 to $91.00 and gave the stock an "equal weight" rating in a research report on Thursday. Evercore ISI boosted their target price on shares of Principal Financial Group from $84.00 to $86.00 and gave the stock an "in-line" rating in a research note on Thursday. Morgan Stanley boosted their target price on shares of Principal Financial Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Monday. Piper Sandler boosted their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, April 5th. Finally, Royal Bank of Canada boosted their target price on shares of Principal Financial Group from $75.00 to $83.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company's stock. According to MarketBeat.com, Principal Financial Group has an average rating of "Hold" and a consensus target price of $80.64.

Principal Financial Group Stock Performance

Shares of PFG traded down $0.89 during mid-day trading on Monday, hitting $78.93. 855,740 shares of the company's stock were exchanged, compared to its average volume of 1,152,903. Principal Financial Group, Inc. has a fifty-two week low of $65.17 and a fifty-two week high of $86.79. The firm has a market capitalization of $18.56 billion, a P/E ratio of 32.50, a P/E/G ratio of 0.98 and a beta of 1.25. The business's 50 day moving average is $81.54 and its two-hundred day moving average is $76.85. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its earnings results on Monday, February 12th. The company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.13. Principal Financial Group had a net margin of 4.56% and a return on equity of 15.14%. The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the prior year, the firm earned $1.70 earnings per share. On average, equities analysts expect that Principal Financial Group, Inc. will post 7.6 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 12th were paid a dividend of $0.69 per share. This is an increase from Principal Financial Group's previous quarterly dividend of $0.67. The ex-dividend date was Monday, March 11th. This represents a $2.76 annualized dividend and a dividend yield of 3.50%. Principal Financial Group's dividend payout ratio is 112.65%.

Principal Financial Group declared that its board has initiated a stock repurchase program on Monday, February 12th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to purchase up to 7.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its stock is undervalued.

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.