Kentucky Retirement Systems Has $1.38 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

Kentucky Retirement Systems lowered its stake in shares of Principal Financial Group, Inc. (NYSE:PFGFree Report) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,549 shares of the company’s stock after selling 266 shares during the quarter. Kentucky Retirement Systems’ holdings in Principal Financial Group were worth $1,381,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Merit Financial Group LLC boosted its holdings in shares of Principal Financial Group by 2.3% in the 3rd quarter. Merit Financial Group LLC now owns 6,947 shares of the company’s stock valued at $501,000 after purchasing an additional 153 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Principal Financial Group by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,311,223 shares of the company’s stock valued at $103,154,000 after purchasing an additional 29,462 shares in the last quarter. Comerica Bank acquired a new stake in shares of Principal Financial Group in the 3rd quarter valued at $4,667,000. Jump Financial LLC acquired a new stake in shares of Principal Financial Group in the 4th quarter valued at $1,507,000. Finally, AustralianSuper Pty Ltd boosted its holdings in shares of Principal Financial Group by 15.8% in the 4th quarter. AustralianSuper Pty Ltd now owns 277,157 shares of the company’s stock valued at $21,804,000 after purchasing an additional 37,836 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Down 1.9 %

Shares of NYSE:PFG opened at $83.54 on Tuesday. The firm has a market cap of $19.58 billion, a P/E ratio of 15.94, a P/E/G ratio of 0.92 and a beta of 1.24. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 12-month low of $65.17 and a 12-month high of $86.79. The business has a fifty day simple moving average of $82.53 and a 200 day simple moving average of $79.10.

Principal Financial Group (NYSE:PFGGet Free Report) last announced its earnings results on Thursday, April 25th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.09). The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.68 billion. Principal Financial Group had a return on equity of 15.06% and a net margin of 8.70%. During the same period in the prior year, the business earned $1.48 earnings per share. Analysts predict that Principal Financial Group, Inc. will post 7.5 earnings per share for the current year.

Principal Financial Group declared that its board has authorized a stock buyback program on Monday, February 12th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to purchase up to 7.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Monday, June 3rd will be given a $0.71 dividend. The ex-dividend date is Monday, June 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.69. This represents a $2.84 annualized dividend and a dividend yield of 3.40%. Principal Financial Group’s dividend payout ratio (DPR) is 52.67%.

Wall Street Analyst Weigh In

PFG has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Royal Bank of Canada increased their price target on 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. Keefe, Bruyette & Woods increased their price target on Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Wells Fargo & Company dropped their price target on Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating for the company in a research note on Monday, April 29th. Finally, Piper Sandler increased their price target on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $80.30.

Get Our Latest Analysis on Principal Financial Group

Principal Financial Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Principal Financial Group (NYSE:PFG)

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