Principal Financial Group, Inc. (NYSE:PFG) Position Increased by Denali Advisors LLC

Denali Advisors LLC boosted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 259.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,648 shares of the company’s stock after purchasing an additional 4,800 shares during the quarter. Denali Advisors LLC’s holdings in Principal Financial Group were worth $574,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Spire Wealth Management grew its position in shares of Principal Financial Group by 152.0% during the fourth quarter. Spire Wealth Management now owns 373 shares of the company’s stock worth $29,000 after acquiring an additional 225 shares during the last quarter. EdgeRock Capital LLC bought a new position in Principal Financial Group in the 4th quarter worth about $31,000. Fortis Group Advisors LLC acquired a new stake in shares of Principal Financial Group in the third quarter valued at approximately $33,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at approximately $33,000. Finally, Riverview Trust Co bought a new stake in shares of Principal Financial Group during the first quarter valued at approximately $34,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Trading Down 0.1 %

Shares of PFG opened at $79.16 on Thursday. The business’s 50-day moving average price is $80.82 and its 200 day moving average price is $80.57. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $18.55 billion, a P/E ratio of 11.78, a P/E/G ratio of 0.86 and a beta of 1.21. 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 released its earnings results on Thursday, April 25th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.09). The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Principal Financial Group had a return on equity of 15.06% and a net margin of 8.70%. During the same period last year, the business earned $1.48 earnings per share. Analysts expect that Principal Financial Group, Inc. will post 7.45 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Monday, June 3rd were issued a $0.71 dividend. The ex-dividend date was Monday, June 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.59%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.69. Principal Financial Group’s dividend payout ratio is presently 54.20%.

Analyst Upgrades and Downgrades

PFG has been the subject of a number of recent analyst reports. Jefferies Financial Group increased their price objective on Principal Financial Group from $74.00 to $78.00 and gave the stock a “hold” rating in a report on Friday, June 28th. Wells Fargo & Company cut their price objective on shares of Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday, April 29th. Piper Sandler upped their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods raised their target price on shares of Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Finally, Evercore ISI increased their price objective on shares of Principal Financial Group from $84.00 to $86.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating and ten have given a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $82.60.

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.