Clarius Group LLC Sells 603 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Clarius Group LLC lowered its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 17.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,933 shares of the company’s stock after selling 603 shares during the period. Clarius Group LLC’s holdings in Principal Financial Group were worth $231,000 as of its most recent SEC filing.

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

Principal Financial Group Price Performance

NYSE:PFG opened at $78.93 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.36. The stock’s 50-day moving average price is $81.56 and its 200-day moving average price is $76.90. The stock has a market capitalization of $18.56 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 0.98 and a beta of 1.25. Principal Financial Group, Inc. has a 52 week low of $65.17 and a 52 week high of $86.79.

Principal Financial Group (NYSE:PFG) last issued its 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 company had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same period in the prior year, the business earned $1.70 EPS. As a group, equities analysts expect that Principal Financial Group, Inc. will post 7.6 EPS for the current fiscal year.

Principal Financial Group announced that its Board of Directors has authorized a share repurchase plan on Monday, February 12th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to repurchase up to 7.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 3.50%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.67. The ex-dividend date was Monday, March 11th. Principal Financial Group’s payout ratio is presently 112.65%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PFG shares. Keefe, Bruyette & Woods upped their target price on shares of Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Evercore ISI boosted their price objective on shares of Principal Financial Group from $84.00 to $86.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Wells Fargo & Company lifted their price target on Principal Financial Group from $86.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Morgan Stanley raised their target price on shares of Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Piper Sandler raised their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Two research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $80.64.

Principal Financial Group 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.