Louisiana State Employees Retirement System Buys New Stake in Principal Financial Group, Inc. (NYSE:PFG)

Louisiana State Employees Retirement System purchased a new stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 13,300 shares of the company's stock, valued at approximately $1,046,000.

Several other institutional investors also recently made changes to their positions in PFG. Ellevest Inc. lifted its position in Principal Financial Group by 3.3% during the third quarter. Ellevest Inc. now owns 4,644 shares of the company's stock valued at $335,000 after buying an additional 149 shares in the last quarter. Merit Financial Group LLC lifted its holdings in shares of Principal Financial Group by 2.3% during the 3rd quarter. Merit Financial Group LLC now owns 6,947 shares of the company's stock valued at $501,000 after acquiring an additional 153 shares in the last quarter. Quent Capital LLC boosted its position in Principal Financial Group by 15.5% during the 4th quarter. Quent Capital LLC now owns 1,185 shares of the company's stock worth $93,000 after purchasing an additional 159 shares during the period. Pinion Investment Advisors LLC increased its holdings in Principal Financial Group by 1.9% in the 3rd quarter. Pinion Investment Advisors LLC now owns 9,193 shares of the company's stock valued at $663,000 after purchasing an additional 169 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. increased its holdings in Principal Financial Group by 3.9% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 4,508 shares of the company's stock valued at $325,000 after purchasing an additional 170 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PFG has been the subject of several analyst reports. Royal Bank of Canada upped their target price on Principal Financial Group from $75.00 to $83.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 14th. Piper Sandler upped their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, April 5th. Morgan Stanley upped their price objective on shares of Principal Financial Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a research report on Monday, April 15th. Wells Fargo & Company lifted their price target on shares of Principal Financial Group from $86.00 to $91.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods upped their price objective on Principal Financial Group from $85.00 to $89.00 and gave the company a "market perform" rating in a research note on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $80.64.

Principal Financial Group Trading Down 1.3 %

Shares of PFG stock traded down $1.10 on Thursday, reaching $81.06. 942,813 shares of the stock were exchanged, compared to its average volume of 1,127,300. The stock has a market cap of $19.06 billion, a PE ratio of 32.95, a P/E/G ratio of 0.87 and a beta of 1.25. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.30 and a quick ratio of 0.30. Principal Financial Group, Inc. has a one year low of $65.17 and a one year high of $86.79. The stock has a 50 day moving average price of $81.80 and a 200 day moving average price of $77.36.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings data on Monday, February 12th. The company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.70 by $0.13. Principal Financial Group had a return on equity of 15.14% and a net margin of 4.56%. The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter last year, the business posted $1.70 EPS. Equities research analysts forecast that Principal Financial Group, Inc. will post 7.6 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.40%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Monday, March 11th. Principal Financial Group's dividend payout ratio (DPR) is currently 112.65%.

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

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.