Deutsche Bank AG Increases Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Deutsche Bank AG increased its stake in Principal Financial Group, Inc. (NYSE:PFG) by 73.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,482,053 shares of the company’s stock after acquiring an additional 627,865 shares during the quarter. Deutsche Bank AG’s holdings in Principal Financial Group were worth $114,726,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Curio Wealth LLC purchased a new stake in shares of Principal Financial Group during the fourth quarter worth about $29,000. BankPlus Trust Department purchased a new stake in Principal Financial Group during the 4th quarter worth approximately $33,000. Navigoe LLC acquired a new position in shares of Principal Financial Group during the fourth quarter valued at approximately $37,000. Covestor Ltd lifted its position in shares of Principal Financial Group by 144.3% in the fourth quarter. Covestor Ltd now owns 540 shares of the company’s stock valued at $42,000 after acquiring an additional 319 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC boosted its stake in shares of Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after acquiring an additional 195 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on PFG. Royal Bank of Canada reissued a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a research note on Thursday, January 16th. Piper Sandler boosted their price target on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. UBS Group cut their price objective on shares of Principal Financial Group from $93.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company upped their price target on Principal Financial Group from $68.00 to $69.00 and gave the company an “underweight” rating in a research report on Tuesday, April 29th. Finally, BMO Capital Markets started coverage on Principal Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price objective on the stock. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $83.54.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $78.90 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The firm has a market cap of $17.69 billion, a P/E ratio of 11.81, a P/E/G ratio of 0.76 and a beta of 1.01. The firm’s 50 day moving average price is $78.45 and its 200-day moving average price is $81.22. Principal Financial Group, Inc. has a one year low of $68.39 and a one year high of $91.98.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same period in the previous year, the business earned $1.65 EPS. As a group, equities research analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Monday, June 2nd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.75. Principal Financial Group’s dividend payout ratio is currently 65.10%.

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.