FAS Wealth Partners Inc. Acquires 3,351 Shares of Principal Financial Group, Inc. (NYSE:PFG)

FAS Wealth Partners Inc. grew its holdings in shares of Principal Financial Group, Inc. (NYSE:PFGFree Report) by 15.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 25,275 shares of the company’s stock after acquiring an additional 3,351 shares during the period. FAS Wealth Partners Inc.’s holdings in Principal Financial Group were worth $1,988,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GHP Investment Advisors Inc. raised its stake in shares of Principal Financial Group by 143.0% during the third quarter. GHP Investment Advisors Inc. now owns 384 shares of the company’s stock valued at $27,000 after acquiring an additional 226 shares during the last quarter. ICA Group Wealth Management LLC raised its stake in shares of Principal Financial Group by 100.0% during the first quarter. ICA Group Wealth Management LLC now owns 400 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares during the last quarter. Clear Street Markets LLC raised its stake in shares of Principal Financial Group by 96.1% during the first quarter. Clear Street Markets LLC now owns 449 shares of the company’s stock valued at $33,000 after acquiring an additional 220 shares during the last quarter. Fortis Group Advisors LLC bought a new position in shares of Principal Financial Group during the third quarter valued at $33,000. Finally, Point72 Middle East FZE bought a new position in shares of Principal Financial Group during the fourth quarter valued at $39,000. Institutional investors own 75.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PFG shares. Keefe, Bruyette & Woods increased their price objective on shares of Principal Financial Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, February 16th. Morgan Stanley increased their price objective on shares of Principal Financial Group from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 13th. Evercore ISI upgraded shares of Principal Financial Group from an “underperform” rating to an “inline” rating and increased their price objective for the stock from $82.00 to $83.00 in a research report on Thursday, January 4th. Finally, Royal Bank of Canada increased their price objective on shares of Principal Financial Group from $75.00 to $83.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $76.18.

View Our Latest Analysis on Principal Financial Group

Principal Financial Group Trading Down 0.8 %

NYSE:PFG opened at $85.34 on Wednesday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $20.13 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 1.07 and a beta of 1.25. The firm has a fifty day simple moving average of $80.88 and a two-hundred day simple moving average of $76.35. Principal Financial Group, Inc. has a 12 month low of $65.17 and a 12 month high of $86.77.

Principal Financial Group (NYSE:PFGGet Free Report) last posted its quarterly earnings results on Monday, February 12th. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Principal Financial Group had a net margin of 4.56% and a return on equity of 15.14%. During the same period last year, the company posted $1.70 earnings per share. Analysts expect that Principal Financial Group, Inc. will post 7.6 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.69 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.67. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Monday, March 11th. Principal Financial Group’s dividend payout ratio (DPR) is currently 112.65%.

Principal Financial Group declared that its Board of Directors has initiated a share repurchase plan on Monday, February 12th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to repurchase up to 7.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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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