Livforsakringsbolaget Skandia Omsesidigt Increases Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 100.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PFG. GHP Investment Advisors Inc. lifted 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 valued at $27,000 after buying an additional 226 shares during the period. ICA Group Wealth Management LLC increased its holdings 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 in the last quarter. Fortis Group Advisors LLC bought a new stake in Principal Financial Group in the 3rd quarter worth about $33,000. Clear Street Markets LLC increased its holdings in Principal Financial Group by 96.1% in the 1st quarter. Clear Street Markets LLC now owns 449 shares of the company’s stock worth $33,000 after buying an additional 220 shares in the last quarter. Finally, PrairieView Partners LLC bought a new stake in Principal Financial Group in the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Royal Bank of Canada lifted their price objective on 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. Wells Fargo & Company lifted their price objective on 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. Evercore ISI lifted their price objective on Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Finally, Piper Sandler lifted their price objective on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $80.64.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock opened at $80.44 on Friday. The stock’s fifty day moving average is $81.64 and its two-hundred day moving average is $77.04. The company has a market capitalization 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 quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.36. 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 announced its quarterly earnings data on Monday, February 12th. The company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.70 by $0.13. Principal Financial Group had a return on equity of 15.14% and a net margin of 4.56%. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the prior year, the company posted $1.70 EPS. As a group, analysts expect that Principal Financial Group, Inc. will post 7.6 earnings per share for the current year.

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

Principal Financial Group Increases Dividend

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

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.