Russell Investments Group Ltd. Has $12.88 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

Russell Investments Group Ltd. decreased its stake in Principal Financial Group, Inc. (NYSE:PFG) by 32.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,499 shares of the company’s stock after selling 79,897 shares during the period. Russell Investments Group Ltd. owned 0.07% of Principal Financial Group worth $12,883,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fortis Group Advisors LLC acquired a new position in shares of Principal Financial Group during the 3rd quarter worth approximately $33,000. PrairieView Partners LLC acquired a new position in Principal Financial Group during the fourth quarter worth $39,000. Anchor Investment Management LLC bought a new stake in Principal Financial Group during the fourth quarter worth $40,000. Valley National Advisers Inc. lifted its stake in Principal Financial Group by 81.7% in the third quarter. Valley National Advisers Inc. now owns 556 shares of the company’s stock valued at $40,000 after acquiring an additional 250 shares during the last quarter. Finally, First Pacific Financial grew its position 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 acquiring an additional 269 shares during the period. Institutional investors own 75.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on PFG. Royal Bank of Canada raised their target price 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. Piper Sandler lifted their target price on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Morgan Stanley increased their price target on Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Evercore ISI lifted their price objective on shares of 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 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 report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $80.30.

Principal Financial Group Trading Up 0.9 %

Shares of NYSE:PFG opened at $81.21 on Friday. The business’s 50 day simple moving average is $81.79 and its 200 day simple moving average is $77.79. Principal Financial Group, Inc. has a 1 year low of $65.17 and a 1 year high of $86.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.29 and a quick ratio of 0.30. The company has a market capitalization of $19.03 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.92 and a beta of 1.24.

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

Principal Financial Group declared that its Board of Directors has initiated 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 repurchase up to 7.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Principal Financial Group Increases Dividend

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

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.