DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Has $2.94 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main cut its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 44.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,022 shares of the company’s stock after selling 30,000 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Principal Financial Group were worth $2,943,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in Principal Financial Group during the fourth quarter worth approximately $217,021,000. Northern Trust Corp increased its holdings in shares of Principal Financial Group by 9.8% during the 4th quarter. Northern Trust Corp now owns 3,662,918 shares of the company’s stock worth $283,546,000 after acquiring an additional 326,604 shares during the last quarter. Amundi raised its stake in Principal Financial Group by 24.1% in the 4th quarter. Amundi now owns 1,359,779 shares of the company’s stock valued at $106,511,000 after acquiring an additional 264,383 shares during the period. KBC Group NV lifted its holdings in Principal Financial Group by 398.4% during the 4th quarter. KBC Group NV now owns 291,379 shares of the company’s stock valued at $22,555,000 after purchasing an additional 232,915 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Principal Financial Group during the fourth quarter worth $15,821,000. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Stock Up 0.1 %

Shares of NYSE PFG opened at $78.90 on Friday. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.98. The stock’s fifty day moving average is $78.45 and its 200 day moving average is $81.22. 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 stock has a market capitalization of $17.69 billion, a P/E ratio of 11.81, a PEG ratio of 0.76 and a beta of 1.01.

Principal Financial Group (NYSE:PFG) last issued its 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 net margin of 9.74% and a return on equity of 14.68%. During the same quarter last year, the firm earned $1.65 earnings per share. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.76 per share. 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. This represents a $3.04 annualized dividend and a yield of 3.85%. Principal Financial Group’s dividend payout ratio is presently 65.10%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PFG. Keefe, Bruyette & Woods increased their price objective on shares of Principal Financial Group from $86.00 to $87.00 and gave the company a “market perform” rating in a research report on Wednesday. Wells Fargo & Company increased their price target on shares of Principal Financial Group from $68.00 to $69.00 and gave the company an “underweight” rating in a report on Tuesday, April 29th. Piper Sandler boosted their price objective on Principal Financial Group from $93.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Morgan Stanley lifted their price target on Principal Financial Group from $65.00 to $67.00 and gave the stock an “underweight” rating in a report on Tuesday, May 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $83.54.

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.