First Trust Advisors LP Grows Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

First Trust Advisors LP increased its position in Principal Financial Group, Inc. (NYSE:PFGFree Report) by 5.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,783,578 shares of the company’s stock after buying an additional 144,262 shares during the period. First Trust Advisors LP’s holdings in Principal Financial Group were worth $218,984,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Spire Wealth Management boosted its stake in shares of Principal Financial Group by 152.0% in the fourth quarter. Spire Wealth Management now owns 373 shares of the company’s stock worth $29,000 after acquiring an additional 225 shares during the period. EdgeRock Capital LLC bought a new stake in shares of Principal Financial Group during the fourth quarter valued at approximately $31,000. Fortis Group Advisors LLC purchased a new position in shares of Principal Financial Group in the third quarter worth $33,000. PrairieView Partners LLC bought a new position in shares of Principal Financial Group during the fourth quarter worth $39,000. Finally, Valley National Advisers Inc. grew its stake in Principal Financial Group by 81.7% during 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 in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Down 0.1 %

Shares of NYSE:PFG opened at $79.65 on Thursday. The company has a market capitalization of $18.67 billion, a PE ratio of 15.20, a P/E/G ratio of 0.86 and a beta of 1.23. 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 12-month low of $66.21 and a 12-month high of $86.79. The business’s fifty day simple moving average is $82.16 and its 200-day simple moving average is $79.96.

Principal Financial Group (NYSE:PFGGet Free Report) last posted 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 during the quarter, compared to analysts’ expectations of $3.68 billion. Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. During the same quarter last year, the firm earned $1.48 EPS. As a group, equities research analysts predict that Principal Financial Group, Inc. will post 7.5 earnings per share for the current fiscal year.

Principal Financial Group declared that its board has initiated a stock buyback program 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 programs are usually a sign that the company’s management believes its shares are undervalued.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Monday, June 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Monday, June 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.69. Principal Financial Group’s payout ratio is 54.20%.

Analyst Ratings Changes

Several analysts have commented on the stock. Wells Fargo & Company decreased their price target 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. 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. Royal Bank of Canada lifted their price objective on Principal Financial Group from $75.00 to $83.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 14th. Evercore ISI increased their target price on Principal Financial Group from $84.00 to $86.00 and gave the company an “in-line” rating in a research report 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 note on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $80.30.

Read Our Latest Research Report on Principal Financial Group

About Principal Financial Group

(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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