Schonfeld Strategic Advisors LLC Boosts Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Schonfeld Strategic Advisors LLC lifted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 151.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,411 shares of the company's stock after purchasing an additional 28,547 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Principal Financial Group were worth $3,670,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Curio Wealth LLC bought a new position in shares of Principal Financial Group during the fourth quarter worth about $29,000. BankPlus Trust Department acquired a new position in shares of Principal Financial Group in the 4th quarter worth approximately $33,000. Covestor Ltd boosted its stake in shares of Principal Financial Group by 144.3% in the 4th quarter. Covestor Ltd now owns 540 shares of the company's stock valued at $42,000 after purchasing an additional 319 shares during the last quarter. Sugarloaf Wealth Management LLC increased its position in shares of Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock worth $43,000 after buying an additional 195 shares during the period. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Principal Financial Group during the fourth quarter worth $46,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Down 0.3 %

Shares of NYSE:PFG traded down $0.22 during mid-day trading on Tuesday, hitting $76.34. 1,203,448 shares of the company traded hands, compared to its average volume of 1,310,122. The stock has a market cap of $17.11 billion, a P/E ratio of 11.43, a P/E/G ratio of 0.76 and a beta of 1.01. The stock has a 50-day moving average price of $79.23 and a two-hundred day moving average price of $81.49. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $91.98. 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 (NYSE:PFG - Get Free Report) last posted its earnings results on Monday, April 28th. The company reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same quarter in the prior year, the business posted $1.65 earnings per share. On average, equities research analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Monday, June 2nd. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's payout ratio is presently 65.10%.

Analyst Ratings Changes

A number of analysts have commented on the stock. JPMorgan Chase & Co. raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and cut their price target for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Morgan Stanley raised their target price on Principal Financial Group from $65.00 to $67.00 and gave the stock an "underweight" rating in a research note on Tuesday. Barclays dropped their price target on 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. Wells Fargo & Company increased their price target on Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a report on Tuesday, April 29th. Finally, BMO Capital Markets started coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price objective for the company. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $83.46.

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.