Graham Capital Management L.P. lifted its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 240.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,122 shares of the company's stock after buying an additional 5,739 shares during the quarter. Graham Capital Management L.P.'s holdings in Principal Financial Group were worth $629,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of PFG. Curio Wealth LLC purchased a new stake in Principal Financial Group during the 4th quarter worth about $29,000. BankPlus Trust Department purchased a new position in Principal Financial Group in the fourth quarter valued at approximately $33,000. Navigoe LLC acquired a new stake in Principal Financial Group during the fourth quarter worth approximately $37,000. Covestor Ltd lifted its position in shares of Principal Financial Group by 144.3% during the 4th quarter. Covestor Ltd now owns 540 shares of the company's stock worth $42,000 after buying an additional 319 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of Principal Financial Group in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 75.08% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the company. Keefe, Bruyette & Woods raised their price objective on Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Wells Fargo & Company lifted their price target on Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 29th. UBS Group lowered their target price on shares of Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Barclays decreased their price target on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. Finally, Morgan Stanley increased their price objective on Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a research report on Monday. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $83.85.
Check Out Our Latest Research Report on Principal Financial Group
Principal Financial Group Price Performance
PFG stock traded down $0.23 during midday trading on Tuesday, hitting $81.07. 113,299 shares of the stock were exchanged, compared to its average volume of 1,315,579. The stock has a market cap of $18.17 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.76 and a beta of 1.01. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.98. The stock's 50-day moving average price is $78.06 and its 200-day moving average price is $81.07.
Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period in the previous year, the company earned $1.65 earnings per share. Research analysts predict that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.
Principal Financial Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be issued a dividend of $0.76 per share. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.75%. Principal Financial Group's payout ratio is presently 65.10%.
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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