Benjamin F. Edwards & Company Inc. Purchases 3,903 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Benjamin F. Edwards & Company Inc. raised its stake in Principal Financial Group, Inc. (NYSE:PFG) by 1,072.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,267 shares of the company’s stock after acquiring an additional 3,903 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Principal Financial Group were worth $336,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fortis Group Advisors LLC acquired a new position in shares of Principal Financial Group during the third quarter worth $33,000. PrairieView Partners LLC bought a new position in Principal Financial Group in the 4th quarter valued at approximately $39,000. Anchor Investment Management LLC acquired a new stake in Principal Financial Group during the 4th quarter worth approximately $40,000. Valley National Advisers Inc. grew its holdings in 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 last quarter. Finally, First Pacific Financial increased its position in 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. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Up 0.6 %

Principal Financial Group stock opened at $83.49 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.35. 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 $19.57 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 0.92 and a beta of 1.24. The firm’s fifty day moving average price is $81.93 and its two-hundred day moving average price is $78.11.

Principal Financial Group (NYSE:PFG) last released 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 net margin of 8.70% and a return on equity of 15.06%. The company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the previous year, the company posted $1.48 earnings per share. On average, equities research analysts predict that Principal Financial Group, Inc. will post 7.5 earnings per share for the current fiscal year.

Principal Financial Group announced that its Board of Directors has approved a stock repurchase program on Monday, February 12th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 7.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Monday, June 3rd will be issued a dividend of $0.71 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.69. This represents a $2.84 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Monday, June 3rd. Principal Financial Group’s dividend payout ratio (DPR) is 54.20%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Piper Sandler lifted their price target 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. Morgan Stanley upped their price target on 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. Wells Fargo & Company lowered their price objective on Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, April 29th. Evercore ISI lifted their price objective on Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat, Principal Financial Group currently has a consensus rating of “Hold” and an average price target of $80.30.

About Principal Financial Group

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.