Goldman Sachs Group Inc. Has $221.37 Million Stock Position in Principal Financial Group, Inc. (NASDAQ:PFG)

Goldman Sachs Group Inc. grew its stake in Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 39.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,060,524 shares of the company’s stock after purchasing an additional 865,635 shares during the quarter. Goldman Sachs Group Inc. owned about 1.15% of Principal Financial Group worth $221,368,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BerganKDV Wealth Management LLC increased its holdings in Principal Financial Group by 5.9% during the 3rd quarter. BerganKDV Wealth Management LLC now owns 53,161 shares of the company’s stock worth $3,424,000 after purchasing an additional 2,956 shares in the last quarter. Clarius Group LLC grew its holdings in shares of Principal Financial Group by 6.4% in the 4th quarter. Clarius Group LLC now owns 4,040 shares of the company’s stock valued at $292,000 after acquiring an additional 242 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Principal Financial Group by 13.2% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 116,323 shares of the company’s stock valued at $8,516,000 after acquiring an additional 13,532 shares in the last quarter. Nordea Investment Management AB lifted its stake in Principal Financial Group by 5.0% in the 4th quarter. Nordea Investment Management AB now owns 14,842 shares of the company’s stock valued at $1,073,000 after purchasing an additional 701 shares during the last quarter. Finally, Venture Visionary Partners LLC lifted its stake in Principal Financial Group by 14.6% in the 4th quarter. Venture Visionary Partners LLC now owns 9,558 shares of the company’s stock valued at $691,000 after purchasing an additional 1,221 shares during the last quarter. 77.69% of the stock is currently owned by institutional investors.

PFG stock traded up $2.40 during midday trading on Friday, hitting $70.02. The stock had a trading volume of 2,264,479 shares, compared to its average volume of 1,669,389. The firm has a market cap of $17.69 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 1.20 and a beta of 1.47. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 1-year low of $58.66 and a 1-year high of $80.36. The business has a fifty day moving average price of $71.18 and a two-hundred day moving average price of $71.70.

Principal Financial Group (NASDAQ:PFGGet Rating) last released its earnings results on Thursday, April 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.07. Principal Financial Group had a net margin of 11.08% and a return on equity of 12.25%. During the same period last year, the business earned $1.53 EPS. On average, equities analysts anticipate that Principal Financial Group, Inc. will post 6.66 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Thursday, June 2nd will be issued a dividend of $0.64 per share. The ex-dividend date of this dividend is Wednesday, June 1st. This represents a $2.56 annualized dividend and a dividend yield of 3.66%. Principal Financial Group’s dividend payout ratio is currently 43.91%.

PFG has been the subject of a number of analyst reports. Royal Bank of Canada dropped their price target on shares of Principal Financial Group from $82.00 to $79.00 and set a “sector perform” rating for the company in a research report on Thursday, March 3rd. Morgan Stanley decreased their price objective on shares of Principal Financial Group from $75.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 3rd. Piper Sandler boosted their target price on shares of Principal Financial Group from $76.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 6th. Barclays lifted their price target on shares of Principal Financial Group from $82.00 to $86.00 and gave the stock an “overweight” rating in a report on Wednesday, February 9th. Finally, Wolfe Research started coverage on shares of Principal Financial Group in a report on Friday, January 21st. They set a “market perform” rating and a $79.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $74.27.

About Principal Financial Group (Get Rating)

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 Global Investors, Principal International, and U.S. Insurance Solutions segments.

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

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