Twin Capital Management Inc. Sells 174 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Twin Capital Management Inc. lowered its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,551 shares of the company’s stock after selling 174 shares during the period. Twin Capital Management Inc.’s holdings in Principal Financial Group were worth $437,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PFG. GHP Investment Advisors Inc. grew its position in Principal Financial Group by 143.0% in the third quarter. GHP Investment Advisors Inc. now owns 384 shares of the company’s stock valued at $27,000 after purchasing an additional 226 shares in the last quarter. ICA Group Wealth Management LLC grew its position in Principal Financial Group by 100.0% in the first quarter. ICA Group Wealth Management LLC now owns 400 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. Fortis Group Advisors LLC bought a new position in Principal Financial Group in the third quarter valued at $33,000. Clear Street Markets LLC grew its position in Principal Financial Group by 96.1% in the first quarter. Clear Street Markets LLC now owns 449 shares of the company’s stock valued at $33,000 after purchasing an additional 220 shares in the last quarter. Finally, PrairieView Partners LLC bought a new position in Principal Financial Group in the fourth quarter valued at $39,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

NYSE PFG opened at $80.44 on Friday. The firm has a 50-day moving average of $81.64 and a 200-day moving average of $77.04. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market cap of $18.92 billion, a PE ratio of 32.83, a P/E/G ratio of 0.97 and a beta of 1.25. Principal Financial Group, Inc. has a 52-week low of $65.17 and a 52-week high of $86.79.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Monday, February 12th. The company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. The company 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 quarter last year, the company posted $1.70 EPS. On average, sell-side analysts anticipate that Principal Financial Group, Inc. will post 7.6 EPS for the current year.

Principal Financial Group announced that its Board of Directors has authorized a stock repurchase program on Monday, February 12th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to buy up to 7.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Principal Financial Group Increases Dividend

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

Analyst Ratings Changes

PFG has been the subject of a number of analyst reports. Morgan Stanley raised their target price on shares of Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Piper Sandler increased their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Evercore ISI increased 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. Wells Fargo & Company increased their price target on shares of Principal Financial Group from $86.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Finally, Royal Bank of Canada increased their price target on shares of Principal Financial Group from $75.00 to $83.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to MarketBeat.com, the company has an average 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.