BI Asset Management Fondsmaeglerselskab A S Acquires 4,036 Shares of Principal Financial Group, Inc. (NYSE:PFG)

BI Asset Management Fondsmaeglerselskab A S raised its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 54.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,455 shares of the company's stock after buying an additional 4,036 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Principal Financial Group were worth $887,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Principal Financial Group in the 4th quarter worth $217,021,000. Amundi lifted its holdings in shares of Principal Financial Group by 24.1% in the fourth quarter. Amundi now owns 1,359,779 shares of the company's stock valued at $106,511,000 after purchasing an additional 264,383 shares in the last quarter. KBC Group NV boosted its position in shares of Principal Financial Group by 398.4% during the fourth quarter. KBC Group NV now owns 291,379 shares of the company's stock worth $22,555,000 after buying an additional 232,915 shares during the period. Raymond James Financial Inc. bought a new position in shares of Principal Financial Group during the fourth quarter worth about $15,821,000. Finally, Quantbot Technologies LP raised its position in Principal Financial Group by 2,064.3% in the 4th quarter. Quantbot Technologies LP now owns 148,299 shares of the company's stock valued at $11,480,000 after buying an additional 141,447 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Stock Performance

NYSE:PFG traded up $0.36 on Tuesday, hitting $74.23. The company's stock had a trading volume of 358,525 shares, compared to its average volume of 1,294,077. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a one year low of $68.39 and a one year high of $91.98. The stock has a fifty day moving average of $80.25 and a two-hundred day moving average of $82.02. The firm has a market capitalization of $16.70 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter last year, the company earned $1.65 earnings per share. Research analysts predict that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be issued a dividend of $0.76 per share. This is a boost from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Monday, June 2nd. Principal Financial Group's dividend payout ratio (DPR) is presently 65.10%.

Analyst Upgrades and Downgrades

PFG has been the subject of a number of recent research reports. BMO Capital Markets started coverage on Principal Financial Group in a research report on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price target for the company. Wells Fargo & Company increased their target price on shares of Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a report on Tuesday. Barclays lowered their price target on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. Piper Sandler boosted their price target on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $83.77.

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.