Handelsbanken Fonder AB Has $4.01 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Handelsbanken Fonder AB lowered its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 51.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 51,027 shares of the company's stock after selling 54,279 shares during the quarter. Handelsbanken Fonder AB's holdings in Principal Financial Group were worth $4,014,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. GHP Investment Advisors Inc. grew its holdings in shares of Principal Financial Group by 143.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 384 shares of the company's stock worth $27,000 after purchasing an additional 226 shares during the period. Fortis Group Advisors LLC purchased a new stake in shares of Principal Financial Group during the 3rd quarter worth about $33,000. PrairieView Partners LLC purchased a new stake in shares of Principal Financial Group during the 4th quarter worth about $39,000. Valley National Advisers Inc. grew its holdings in shares of Principal Financial Group by 81.7% during the 3rd quarter. Valley National Advisers Inc. now owns 556 shares of the company's stock worth $40,000 after purchasing an additional 250 shares during the period. Finally, Anchor Investment Management LLC purchased a new stake in shares of Principal Financial Group during the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 75.08% of the company's stock.

Principal Financial Group Stock Performance

Shares of PFG stock traded down $1.94 on Friday, hitting $79.12. 1,424,758 shares of the stock traded hands, compared to its average volume of 1,130,972. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $18.61 billion, a PE ratio of 32.29, a PEG ratio of 0.87 and a beta of 1.25. Principal Financial Group, Inc. has a 1-year low of $65.17 and a 1-year high of $86.79. The company's fifty day moving average is $81.80 and its 200 day moving average is $77.39.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.09). The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.68 billion. Principal Financial Group had a net margin of 4.56% and a return on equity of 15.14%. During the same period in the prior year, the company posted $1.48 earnings per share. On average, equities research analysts predict that Principal Financial Group, Inc. will post 7.6 earnings per share for the current fiscal year.

Principal Financial Group announced that its Board of Directors has authorized a stock buyback program on Monday, February 12th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 12th were given a dividend of $0.69 per share. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.67. This represents a $2.76 annualized dividend and a dividend yield of 3.49%. The ex-dividend date was Monday, March 11th. Principal Financial Group's dividend payout ratio is currently 112.65%.

Analyst Ratings Changes

PFG has been the subject of a number of analyst reports. Piper Sandler upped their price target on Principal Financial Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, April 5th. Morgan Stanley upped their price target on Principal Financial Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a report on Monday, April 15th. Keefe, Bruyette & Woods upped their price target on Principal Financial Group from $85.00 to $89.00 and gave the stock a "market perform" rating in a report on Wednesday, April 10th. Evercore ISI upped their price target on Principal Financial Group from $84.00 to $86.00 and gave the stock an "in-line" rating in a report on Thursday, April 11th. Finally, Wells Fargo & Company upped their price target on Principal Financial Group from $86.00 to $91.00 and gave the stock an "equal weight" rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $80.64.

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.