Victory Capital Management Inc. Has $25.66 Million Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Victory Capital Management Inc. grew its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 9.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 326,188 shares of the company's stock after purchasing an additional 27,887 shares during the period. Victory Capital Management Inc. owned approximately 0.14% of Principal Financial Group worth $25,661,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PFG. Fortis Group Advisors LLC acquired a new stake in shares of Principal Financial Group in the 3rd quarter valued at about $33,000. PrairieView Partners LLC acquired a new stake in shares of Principal Financial Group in the 4th quarter valued at about $39,000. Valley National Advisers Inc. boosted its position in shares of Principal Financial Group by 81.7% in the 3rd quarter. Valley National Advisers Inc. now owns 556 shares of the company's stock valued at $40,000 after purchasing an additional 250 shares during the period. Anchor Investment Management LLC acquired a new stake in shares of Principal Financial Group in the 4th quarter valued at about $40,000. Finally, Authentikos Wealth Advisory LLC acquired a new stake in Principal Financial Group during the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 75.08% of the company's stock.

Principal Financial Group Stock Performance

Shares of NYSE PFG traded up $0.51 during mid-day trading on Thursday, hitting $83.49. The company had a trading volume of 887,230 shares, compared to its average volume of 1,119,085. The firm's 50 day simple moving average is $81.93 and its two-hundred day simple moving average is $78.11. The stock has a market cap of $19.57 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 0.92 and a beta of 1.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.29 and a quick ratio of 0.29. Principal Financial Group, Inc. has a 12 month low of $65.17 and a 12 month high of $86.79.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its earnings results on Thursday, April 25th. The company reported $1.65 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 the consensus estimate of $3.68 billion. Principal Financial Group had a return on equity of 15.06% and a net margin of 8.70%. During the same period in the previous year, the firm earned $1.48 EPS. As a group, equities research analysts forecast that Principal Financial Group, Inc. will post 7.5 earnings per share for the current year.

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

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd will be given a $0.71 dividend. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.84 annualized dividend and a yield of 3.40%. Principal Financial Group's payout ratio is 52.67%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PFG shares. Evercore ISI increased their price objective on Principal Financial Group from $84.00 to $86.00 and gave the stock an "in-line" rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods raised 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. Royal Bank of Canada boosted their price target on Principal Financial Group from $75.00 to $83.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 14th. Wells Fargo & Company decreased their price objective on Principal Financial Group from $91.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Monday, April 29th. Finally, 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 report on Friday, April 5th. Two investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $80.30.

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.