Principal Financial Group, Inc. (NYSE:PFG) Shares Purchased by SVB Wealth LLC

SVB Wealth LLC increased its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 37.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,988 shares of the company’s stock after buying an additional 1,096 shares during the quarter. SVB Wealth LLC’s holdings in Principal Financial Group were worth $314,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of PFG. GHP Investment Advisors Inc. increased its holdings in Principal Financial Group by 143.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 384 shares of the company’s stock worth $27,000 after buying an additional 226 shares during the period. ICA Group Wealth Management LLC increased its holdings in Principal Financial Group by 100.0% in the 1st quarter. ICA Group Wealth Management LLC now owns 400 shares of the company’s stock worth $30,000 after buying an additional 200 shares during the period. Fortis Group Advisors LLC acquired a new position in Principal Financial Group in the 3rd quarter worth approximately $33,000. Clear Street Markets LLC increased its holdings in Principal Financial Group by 96.1% in the 1st quarter. Clear Street Markets LLC now owns 449 shares of the company’s stock worth $33,000 after buying an additional 220 shares during the period. Finally, PrairieView Partners LLC acquired a new position in Principal Financial Group in the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Trading Up 1.9 %

Shares of NYSE:PFG opened at $80.44 on Monday. Principal Financial Group, Inc. has a 1 year low of $65.17 and a 1 year high of $86.79. The firm has a market capitalization of $18.92 billion, a price-to-earnings ratio of 32.83, a price-to-earnings-growth ratio of 0.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.30 and a quick ratio of 0.30. The business’s 50 day moving average price is $81.64 and its 200-day moving average price is $77.16.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Monday, February 12th. The company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.13. The firm had revenue of $2.69 billion for the quarter, compared to analyst estimates of $3.53 billion. Principal Financial Group had a return on equity of 15.14% and a net margin of 4.56%. During the same quarter last year, the firm posted $1.70 EPS. On average, equities research analysts forecast that Principal Financial Group, Inc. will post 7.6 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were issued a $0.69 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.76 dividend on an annualized basis and a yield of 3.43%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.67. Principal Financial Group’s dividend payout ratio (DPR) is presently 112.65%.

Principal Financial Group declared that its Board of Directors has authorized a share repurchase plan on Monday, February 12th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 7.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently weighed in on PFG. Morgan Stanley increased their price target on shares of Principal Financial Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Royal Bank of Canada upped their price objective on Principal Financial Group from $75.00 to $83.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 14th. Keefe, Bruyette & Woods upped their price objective on 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 upped their price objective on Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Finally, Wells Fargo & Company upped their price objective on Principal Financial Group from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. According to MarketBeat, the company presently 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.