Jump Financial LLC Buys New Stake in Principal Financial Group, Inc. (NYSE:PFG)

Jump Financial LLC acquired a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 19,160 shares of the company's stock, valued at approximately $1,507,000.

Several other institutional investors have also modified their holdings of the stock. Fifth Third Bancorp boosted its holdings in Principal Financial Group by 8.0% in the 3rd quarter. Fifth Third Bancorp now owns 7,511 shares of the company's stock worth $541,000 after buying an additional 559 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Principal Financial Group by 4.1% during the third quarter. Teacher Retirement System of Texas now owns 145,709 shares of the company's stock worth $10,501,000 after purchasing an additional 5,755 shares in the last quarter. New Mexico Educational Retirement Board increased its position in shares of Principal Financial Group by 6.3% during the third quarter. New Mexico Educational Retirement Board now owns 11,754 shares of the company's stock worth $847,000 after purchasing an additional 700 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Principal Financial Group by 7.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 19,946 shares of the company's stock valued at $1,438,000 after purchasing an additional 1,344 shares during the last quarter. Finally, Empirical Finance LLC lifted its holdings in Principal Financial Group by 9.2% in the 3rd quarter. Empirical Finance LLC now owns 8,208 shares of the company's stock valued at $592,000 after purchasing an additional 691 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.

Wall Street Analyst Weigh In

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

Principal Financial Group Stock Down 0.6 %

Shares of NYSE PFG traded down $0.50 during midday trading on Thursday, hitting $84.28. 922,253 shares of the company's stock were exchanged, compared to its average volume of 1,105,143. The company has a market cap of $19.75 billion, a PE ratio of 16.13, a P/E/G ratio of 0.90 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 twelve month low of $65.17 and a twelve month high of $86.79. The firm's fifty day simple moving average is $82.27 and its 200-day simple moving average is $78.69.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its earnings results on Thursday, April 25th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period last year, the company earned $1.48 earnings per share. Research analysts predict that Principal Financial Group, Inc. will post 7.52 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.37%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Monday, June 3rd. Principal Financial Group's dividend payout ratio (DPR) is presently 52.67%.

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