GAMMA Investing LLC Has $168,000 Holdings in Principal Financial Group, Inc. (NYSE:PFG)

GAMMA Investing LLC raised its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 17.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,942 shares of the company’s stock after buying an additional 284 shares during the quarter. GAMMA Investing LLC’s holdings in Principal Financial Group were worth $168,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PFG. Norges Bank acquired a new position in Principal Financial Group in the fourth quarter valued at approximately $253,990,000. RIA Advisory Group LLC raised its position in shares of Principal Financial Group by 35,473.1% during the fourth quarter. RIA Advisory Group LLC now owns 1,080,000 shares of the company’s stock worth $84,964,000 after purchasing an additional 1,076,964 shares during the period. Wellington Management Group LLP raised its position in shares of Principal Financial Group by 15.0% during the third quarter. Wellington Management Group LLP now owns 4,423,975 shares of the company’s stock worth $318,836,000 after purchasing an additional 575,646 shares during the period. Pinebridge Investments L.P. raised its position in shares of Principal Financial Group by 2,594.0% during the fourth quarter. Pinebridge Investments L.P. now owns 575,986 shares of the company’s stock worth $45,313,000 after purchasing an additional 554,606 shares during the period. Finally, Trust Point Inc. acquired a new position in shares of Principal Financial Group during the fourth quarter worth approximately $30,290,000. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Stock Down 0.3 %

Shares of NYSE:PFG opened at $80.01 on Friday. The company has a market capitalization of $18.75 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 0.86 and a beta of 1.23. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.29 and a quick ratio of 0.29. The business has a fifty day moving average price of $80.86 and a two-hundred day moving average price of $80.37. Principal Financial Group, Inc. has a 1 year low of $66.21 and a 1 year high of $86.79.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.68 billion. Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. During the same quarter last year, the company earned $1.48 EPS. Analysts forecast that Principal Financial Group, Inc. will post 7.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.71 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.84 annualized dividend and a dividend yield of 3.55%. Principal Financial Group’s dividend payout ratio is presently 54.20%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PFG shares. Morgan Stanley upped their target price on Principal Financial Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Wells Fargo & Company lowered their target price on Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Monday, April 29th. Piper Sandler increased their price target on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Evercore ISI increased their price target on Principal Financial Group from $84.00 to $86.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods increased their price target on Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $80.30.

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.