SG Americas Securities LLC Boosts Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

SG Americas Securities LLC boosted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFGFree Report) by 163.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,502 shares of the company’s stock after acquiring an additional 10,859 shares during the quarter. SG Americas Securities LLC’s holdings in Principal Financial Group were worth $1,377,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Morgan Stanley raised its position in Principal Financial Group by 67.3% during the 4th quarter. Morgan Stanley now owns 4,514,124 shares of the company’s stock valued at $378,825,000 after purchasing an additional 1,816,343 shares in the last quarter. Norges Bank bought a new position in shares of Principal Financial Group in the 4th quarter worth $78,939,000. Royal Bank of Canada raised its position in shares of Principal Financial Group by 307.9% in the 1st quarter. Royal Bank of Canada now owns 1,133,674 shares of the company’s stock worth $83,223,000 after acquiring an additional 855,747 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Principal Financial Group in the 1st quarter worth $46,453,000. Finally, Wellington Management Group LLP raised its position in shares of Principal Financial Group by 15.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,423,975 shares of the company’s stock worth $318,836,000 after acquiring an additional 575,646 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $86.31 on Friday. The stock has a market capitalization of $20.36 billion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 1.07 and a beta of 1.24. Principal Financial Group, Inc. has a 52-week low of $65.17 and a 52-week high of $86.77. The stock’s 50-day moving average price is $80.58 and its 200 day moving average price is $76.20. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFGGet Free Report) last issued its quarterly earnings results on Monday, February 12th. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.13. Principal Financial Group had a return on equity of 15.14% and a net margin of 4.56%. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter in the previous year, the firm posted $1.70 EPS. As a group, equities research analysts forecast that Principal Financial Group, Inc. will post 7.6 EPS for the current year.

Principal Financial Group declared that its Board of Directors has initiated a stock buyback program on Monday, February 12th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to purchase up to 7.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 12th were paid a dividend of $0.69 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.76 annualized dividend and a dividend yield of 3.20%. Principal Financial Group’s payout ratio is 112.65%.

Wall Street Analysts Forecast Growth

PFG has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price target on Principal Financial Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, February 16th. Evercore ISI raised Principal Financial Group from an “underperform” rating to an “inline” rating and upped their target price for the company from $82.00 to $83.00 in a research report on Thursday, January 4th. Royal Bank of Canada upped their target price on Principal Financial Group from $75.00 to $83.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 14th. Finally, Morgan Stanley upped their target price on Principal Financial Group from $72.00 to $75.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $76.18.

Check Out Our Latest Stock Report on Principal Financial Group

About Principal Financial Group

(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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Institutional Ownership by Quarter for Principal Financial Group (NYSE:PFG)

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