Western Wealth Management LLC Sells 508 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Western Wealth Management LLC cut its stake in Principal Financial Group, Inc. (NYSE:PFG) by 16.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,675 shares of the company’s stock after selling 508 shares during the period. Western Wealth Management LLC’s holdings in Principal Financial Group were worth $210,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. GHP Investment Advisors Inc. boosted 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 valued at $27,000 after purchasing an additional 226 shares during the period. Fortis Group Advisors LLC bought a new position in shares of Principal Financial Group during the 3rd quarter worth about $33,000. PrairieView Partners LLC bought a new position in shares of Principal Financial Group during the 4th quarter worth about $39,000. Anchor Investment Management LLC bought a new position in shares of Principal Financial Group during the 4th quarter worth about $40,000. Finally, Valley National Advisers Inc. lifted its holdings in shares of Principal Financial Group by 81.7% during the 3rd quarter. Valley National Advisers Inc. now owns 556 shares of the company’s stock worth $40,000 after acquiring an additional 250 shares during the period. 75.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on PFG shares. Morgan Stanley raised their price objective 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. Piper Sandler raised their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods increased 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. Wells Fargo & Company increased their target price on shares of 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. Finally, Royal Bank of Canada increased their target price on shares of 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. Two research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to MarketBeat, Principal Financial Group has an average rating of “Hold” and an average target price of $80.64.

Principal Financial Group Stock Up 1.1 %

Principal Financial Group stock opened at $81.35 on Tuesday. The company’s 50 day simple moving average is $81.68 and its 200 day simple moving average is $77.25. Principal Financial Group, Inc. has a fifty-two week low of $65.17 and a fifty-two week high of $86.79. The firm has a market capitalization of $19.13 billion, a price-to-earnings ratio of 33.20, a PEG 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.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Monday, February 12th. The company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.13. Principal Financial Group had a net margin of 4.56% and a return on equity of 15.14%. The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same quarter last year, the firm earned $1.70 EPS. As a group, sell-side analysts anticipate that Principal Financial Group, Inc. will post 7.6 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were paid 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 3.39%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.67. Principal Financial Group’s payout ratio is presently 112.65%.

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

Principal Financial Group Company 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.