Lbp Am Sa Has $5.42 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Lbp Am Sa grew its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 223.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,767 shares of the company’s stock after purchasing an additional 43,383 shares during the period. Lbp Am Sa’s holdings in Principal Financial Group were worth $5,417,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PFG. Capital Research Global Investors grew its stake in Principal Financial Group by 2.4% in the first quarter. Capital Research Global Investors now owns 6,602,298 shares of the company’s stock valued at $569,844,000 after purchasing an additional 152,774 shares in the last quarter. Norges Bank acquired a new stake in shares of Principal Financial Group during the 4th quarter valued at about $253,990,000. First Trust Advisors LP grew its stake in shares of Principal Financial Group by 5.5% in the 4th quarter. First Trust Advisors LP now owns 2,783,578 shares of the company’s stock valued at $218,984,000 after buying an additional 144,262 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Principal Financial Group by 10.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,157,712 shares of the company’s stock worth $169,747,000 after buying an additional 200,056 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in Principal Financial Group by 12.3% during the fourth quarter. Hsbc Holdings PLC now owns 1,360,338 shares of the company’s stock valued at $107,030,000 after acquiring an additional 149,353 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Trading Down 2.5 %

NYSE:PFG traded down $2.05 during trading hours on Thursday, hitting $79.46. 1,097,960 shares of the stock were exchanged, compared to its average volume of 1,117,219. The company has a market capitalization of $18.62 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 0.90 and a beta of 1.21. The company has a quick ratio of 0.29, a current ratio of 0.27 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $81.02 and its two-hundred day moving average is $81.13. Principal Financial Group, Inc. has a twelve month low of $66.21 and a twelve month high of $88.26.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.87 by ($0.24). Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the prior year, the firm posted $1.53 earnings per share. On average, sell-side analysts anticipate that Principal Financial Group, Inc. will post 7.33 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.72 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.88 annualized dividend and a dividend yield of 3.62%. Principal Financial Group’s payout ratio is presently 54.20%.

Analyst Ratings Changes

Several analysts have commented on PFG shares. Wells Fargo & Company decreased their target price on shares of Principal Financial Group from $87.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday. Piper Sandler raised their target price on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Evercore ISI raised their price objective on 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. Royal Bank of Canada raised their price target on Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and increased their price target for the company from $88.00 to $96.00 in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $85.50.

Principal Financial Group Company Profile

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.