Dimensional Fund Advisors LP Cuts Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Dimensional Fund Advisors LP lowered its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,875,462 shares of the company's stock after selling 47,525 shares during the period. Dimensional Fund Advisors LP owned about 1.63% of Principal Financial Group worth $304,903,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Jump Financial LLC acquired a new stake in shares of Principal Financial Group in the 4th quarter valued at $1,507,000. Qsemble Capital Management LP lifted its position in Principal Financial Group by 228.4% during the 4th quarter. Qsemble Capital Management LP now owns 12,808 shares of the company's stock worth $1,008,000 after buying an additional 8,908 shares in the last quarter. Principal Securities Inc. acquired a new position in Principal Financial Group during the 4th quarter worth about $143,000. EdgeRock Capital LLC acquired a new position in Principal Financial Group during the 4th quarter worth about $31,000. Finally, Centric Wealth Management lifted its position in Principal Financial Group by 11.3% during the 4th quarter. Centric Wealth Management now owns 20,449 shares of the company's stock worth $1,585,000 after buying an additional 2,080 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PFG shares. Royal Bank of Canada upped their price target on shares of 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. Keefe, Bruyette & Woods upped their price target on shares of Principal Financial Group from $85.00 to $89.00 and gave the stock a "market perform" rating in a research report on Wednesday, April 10th. Wells Fargo & Company dropped their price objective on Principal Financial Group from $91.00 to $85.00 and set an "equal weight" rating for the company in a report on Monday, April 29th. Piper Sandler boosted their price objective on Principal Financial Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, April 5th. Finally, Morgan Stanley boosted their price objective 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. Two analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat.com, Principal Financial Group presently has an average rating of "Hold" and a consensus price target of $80.30.

Principal Financial Group Trading Down 0.0 %

Shares of PFG stock traded down $0.04 on Monday, reaching $83.92. The company had a trading volume of 621,364 shares, compared to its average volume of 1,111,941. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.35. The stock has a market cap of $19.67 billion, a PE ratio of 16.05, a PEG ratio of 0.90 and a beta of 1.24. The company has a 50-day moving average of $82.06 and a 200-day moving average of $78.42. 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 issued its quarterly earnings data 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). Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the prior year, the firm posted $1.48 earnings per share. On average, equities analysts forecast that Principal Financial Group, Inc. will post 7.52 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Monday, June 3rd will be given a $0.71 dividend. The ex-dividend date is Monday, June 3rd. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.69. This represents a $2.84 annualized dividend and a dividend yield of 3.38%. Principal Financial Group's payout ratio is currently 52.67%.

Principal Financial Group announced that its board has approved a stock repurchase plan on Monday, February 12th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to reacquire up to 7.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

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.