Savant Capital LLC Has $1.02 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Savant Capital LLC grew its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 2.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,964 shares of the company’s stock after buying an additional 346 shares during the period. Savant Capital LLC’s holdings in Principal Financial Group were worth $1,020,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Fortis Group Advisors LLC acquired a new position in shares of Principal Financial Group during the 3rd quarter valued at $33,000. PrairieView Partners LLC acquired a new position in shares of Principal Financial Group during the fourth quarter valued at 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. Valley National Advisers Inc. grew its stake in shares of Principal Financial Group by 81.7% in the 3rd quarter. Valley National Advisers Inc. now owns 556 shares of the company’s stock valued at $40,000 after buying an additional 250 shares during the period. Finally, First Pacific Financial grew its stake in shares of Principal Financial Group by 91.2% in the 4th quarter. First Pacific Financial now owns 564 shares of the company’s stock valued at $44,000 after buying an additional 269 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $81.21 on Friday. Principal Financial Group, Inc. has a one year low of $65.17 and a one year high of $86.79. The company has a market cap of $19.03 billion, a P/E ratio of 15.50, a P/E/G ratio of 0.91 and a beta of 1.24. The firm has a 50-day moving average of $81.77 and a 200-day moving average of $77.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.29 and a quick ratio of 0.30.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.09). Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter last year, the business posted $1.48 EPS. Equities research analysts forecast that Principal Financial Group, Inc. will post 7.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were given a $0.69 dividend. The ex-dividend date was Monday, March 11th. This represents a $2.76 annualized dividend and a yield of 3.40%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.67. Principal Financial Group’s payout ratio is currently 52.67%.

Principal Financial Group announced that its board has approved a share buyback program on Monday, February 12th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows 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.

Analyst Ratings Changes

PFG has been the topic of several recent research reports. Piper Sandler increased their price target on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Morgan Stanley lifted their price target on shares of Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Royal Bank of Canada boosted their price target on shares of Principal Financial Group from $75.00 to $83.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 14th. Wells Fargo & Company dropped their price objective on shares of Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday, April 29th. Finally, Keefe, Bruyette & Woods boosted 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. Two equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to data from MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and a consensus target price of $80.30.

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.