Principal Financial Group, Inc. (NYSE:PFG) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 29.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 591,970 shares of the company’s stock after purchasing an additional 134,828 shares during the period. Massachusetts Financial Services Co. MA owned 0.26% of Principal Financial Group worth $49,945,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PFG. von Borstel & Associates Inc. bought a new stake in Principal Financial Group during the 1st quarter worth approximately $32,000. Ameriflex Group Inc. acquired a new stake in Principal Financial Group in the 4th quarter valued at $37,000. Navigoe LLC purchased a new position in shares of Principal Financial Group in the 4th quarter worth about $37,000. Covestor Ltd increased its position in shares of Principal Financial Group by 144.3% during the fourth quarter. Covestor Ltd now owns 540 shares of the company’s stock valued at $42,000 after buying an additional 319 shares during the period. Finally, MorganRosel Wealth Management LLC bought a new position in Principal Financial Group during the first quarter valued at approximately $46,000. Institutional investors own 75.08% of the company’s stock.

Wall Street Analyst Weigh In

PFG has been the topic of several recent research reports. Piper Sandler upped their price objective on Principal Financial Group from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. Wells Fargo & Company lifted their price objective on Principal Financial Group from $69.00 to $73.00 and gave the stock an “underweight” rating in a research report on Thursday, July 10th. Keefe, Bruyette & Woods boosted their target price on Principal Financial Group from $87.00 to $90.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 9th. UBS Group reduced their price objective on Principal Financial Group from $93.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $75.00 target price (up previously from $71.00) on shares of Principal Financial Group in a report on Monday. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.08.

Principal Financial Group Stock Up 1.4%

NYSE PFG opened at $80.97 on Friday. The stock’s 50 day simple moving average is $78.71 and its 200 day simple moving average is $79.80. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The firm has a market cap of $18.15 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 0.76 and a beta of 0.99. 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 announced its quarterly earnings results on Monday, April 28th. The company reported $1.81 earnings per share (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 quarter last year, the company earned $1.65 EPS. As a group, sell-side analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Monday, June 2nd were paid a dividend of $0.76 per share. The ex-dividend date was Monday, June 2nd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.75. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.75%. Principal Financial Group’s payout ratio is currently 65.10%.

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.