Livforsakringsbolaget Skandia Omsesidigt Acquires 541 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 100.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,082 shares of the company’s stock after acquiring an additional 541 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Principal Financial Group were worth $85,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. raised its position in Principal Financial Group by 143.0% during the third quarter. GHP Investment Advisors Inc. now owns 384 shares of the company’s stock worth $27,000 after acquiring an additional 226 shares in the last quarter. ICA Group Wealth Management LLC raised its position in Principal Financial Group by 100.0% during the first quarter. ICA Group Wealth Management LLC now owns 400 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares in the last quarter. Clear Street Markets LLC raised its position in Principal Financial Group by 96.1% during the first quarter. Clear Street Markets LLC now owns 449 shares of the company’s stock worth $33,000 after acquiring an additional 220 shares in the last quarter. Fortis Group Advisors LLC bought a new stake in Principal Financial Group during the third quarter worth $33,000. Finally, Point72 Middle East FZE acquired a new position in shares of Principal Financial Group in the fourth quarter valued at about $39,000. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Stock Up 1.9 %

Shares of NYSE PFG opened at $80.44 on Friday. The firm has a market cap of $18.92 billion, a PE ratio of 32.83, a price-to-earnings-growth ratio of 0.97 and a beta of 1.25. The company has a 50 day simple moving average of $81.64 and a 200 day simple moving average of $77.04. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.30 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 1 year low of $65.17 and a 1 year high of $86.79.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Monday, February 12th. The company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.70 by $0.13. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $1.70 EPS. On average, research analysts forecast that Principal Financial Group, Inc. will post 7.6 EPS for the current year.

Principal Financial Group declared that its Board of Directors has authorized a stock repurchase plan on Monday, February 12th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 7.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.69 per share. The ex-dividend date was Monday, March 11th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.67. This represents a $2.76 annualized dividend and a yield of 3.43%. Principal Financial Group’s dividend payout ratio (DPR) is 112.65%.

Wall Street Analysts Forecast Growth

PFG has been the topic of several research reports. Evercore ISI upped their price target on shares of Principal Financial Group from $84.00 to $86.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Piper Sandler increased their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Wells Fargo & Company increased their price objective on shares of Principal Financial Group from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. 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 note on Wednesday, February 14th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to MarketBeat.com, Principal Financial Group has a consensus rating of “Hold” and a consensus price target of $80.64.

About Principal Financial Group

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.