Voya Investment Management LLC decreased its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 8.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,201 shares of the company's stock after selling 5,811 shares during the quarter. Voya Investment Management LLC's holdings in Principal Financial Group were worth $4,815,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Curio Wealth LLC purchased a new stake in Principal Financial Group during the 4th quarter valued at about $29,000. BankPlus Trust Department acquired a new position in shares of Principal Financial Group during the 4th quarter worth approximately $33,000. Covestor Ltd grew its position in shares of Principal Financial Group by 144.3% in the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock valued at $42,000 after purchasing an additional 319 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its position in 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 in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in 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 Up 0.0 %
PFG traded up $0.02 during trading hours on Tuesday, hitting $76.58. 145,093 shares of the company's stock were exchanged, compared to its average volume of 1,303,863. The firm has a market cap of $17.17 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. 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. The firm has a 50 day moving average of $79.23 and a 200 day moving average of $81.49.
Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing analysts' consensus estimates 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 period in the previous year, the business posted $1.65 EPS. Analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.
Principal Financial Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.97%. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date is Monday, June 2nd. Principal Financial Group's dividend payout ratio is presently 65.10%.
Wall Street Analysts Forecast Growth
PFG has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised Principal Financial Group from a "neutral" rating to an "overweight" rating and cut their target price for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods cut their price objective on shares of Principal Financial Group from $88.00 to $86.00 and set a "market perform" rating for the company in a research report on Tuesday, April 29th. BMO Capital Markets began coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 target price on the stock. Morgan Stanley decreased their price objective on Principal Financial Group from $77.00 to $65.00 and set an "underweight" rating on the stock in a report on Thursday, April 10th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Principal Financial Group presently has an average rating of "Hold" and an average target price of $83.31.
View Our Latest Analysis on Principal Financial Group
Principal Financial Group Profile
(
Free Report)
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.
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