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

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

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Principal Financial Group by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 29,028,108 shares of the company’s stock worth $2,130,953,000 after acquiring an additional 150,598 shares during the last quarter. State Street Corp lifted its holdings in shares of Principal Financial Group by 2.6% in the 2nd quarter. State Street Corp now owns 10,146,771 shares of the company’s stock worth $769,531,000 after acquiring an additional 258,621 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Principal Financial Group by 67.3% in the 4th quarter. Morgan Stanley now owns 4,514,124 shares of the company’s stock worth $378,825,000 after acquiring an additional 1,816,343 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Principal Financial Group by 15.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,423,975 shares of the company’s stock worth $318,836,000 after acquiring an additional 575,646 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Principal Financial Group by 1.1% in the 1st quarter. Northern Trust Corp now owns 4,113,693 shares of the company’s stock worth $301,986,000 after acquiring an additional 43,319 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Trading Down 0.8 %

NYSE:PFG opened at $85.34 on Wednesday. The company has a 50-day moving average price of $80.88 and a 200-day moving average price of $76.35. Principal Financial Group, Inc. has a 12 month low of $65.17 and a 12 month high of $86.77. 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 cap of $20.13 billion, a price-to-earnings ratio of 34.83, a P/E/G ratio of 1.07 and a beta of 1.25.

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

Principal Financial Group announced that its board has approved a stock buyback program on Monday, February 12th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to purchase up to 7.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is 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 given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.23%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Monday, March 11th. Principal Financial Group’s dividend payout ratio (DPR) is currently 112.65%.

Analyst Upgrades and Downgrades

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

View Our Latest Report on PFG

About Principal Financial Group

(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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