Prana Capital Management LP raised its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 95.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 105,399 shares of the company's stock after buying an additional 51,505 shares during the quarter. Prana Capital Management LP's holdings in Principal Financial Group were worth $8,159,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of PFG. Curio Wealth LLC acquired a new position in shares of Principal Financial Group during the fourth quarter valued at about $29,000. BankPlus Trust Department bought a new position in shares of Principal Financial Group in the fourth quarter valued at approximately $33,000. Navigoe LLC purchased a new position in shares of Principal Financial Group during the fourth quarter valued at approximately $37,000. Covestor Ltd grew its holdings in Principal Financial Group by 144.3% during the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock worth $42,000 after buying an additional 319 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in Principal Financial Group in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 75.08% of the company's stock.
Principal Financial Group Stock Performance
Shares of PFG stock traded down $0.25 during mid-day trading on Tuesday, reaching $81.05. The stock had a trading volume of 204,645 shares, compared to its average volume of 1,544,963. The business's fifty day moving average is $78.06 and its 200-day moving average is $81.07. The firm has a market cap of $18.17 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $91.97. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.
Principal Financial Group (NYSE:PFG - Get Free Report) last posted its earnings results on Monday, April 28th. The company reported $1.81 earnings per share 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 quarter in the previous year, the business earned $1.65 EPS. On average, research analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.
Principal Financial Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.75%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date is Monday, June 2nd. Principal Financial Group's dividend payout ratio (DPR) is presently 65.10%.
Wall Street Analysts Forecast Growth
PFG has been the topic of a number of recent analyst reports. Morgan Stanley lifted their target price on Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a research note on Monday. UBS Group lowered their price objective on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Piper Sandler increased their target price on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Barclays reduced their target price 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, Wells Fargo & Company raised their price objective on shares of Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a report on Tuesday, April 29th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Principal Financial Group currently has an average rating of "Hold" and a consensus price target of $83.85.
Get Our Latest Stock Analysis on PFG
Principal Financial Group Company 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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