Nordea Investment Management AB Raises Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Nordea Investment Management AB grew its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 3.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,930 shares of the company’s stock after buying an additional 690 shares during the period. Nordea Investment Management AB’s holdings in Principal Financial Group were worth $1,468,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PFG. Peterson Financial Group Inc. bought a new stake in shares of Principal Financial Group in the 3rd quarter worth about $33,000. Truvestments Capital LLC bought a new stake in Principal Financial Group during the 3rd quarter valued at about $43,000. Prospera Private Wealth LLC bought a new stake in Principal Financial Group during the 3rd quarter valued at about $45,000. Capital Performance Advisors LLP bought a new stake in Principal Financial Group during the 3rd quarter valued at about $50,000. Finally, Pinnacle Financial Partners Inc bought a new stake in Principal Financial Group during the 3rd quarter valued at about $57,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Down 2.5 %

Shares of Principal Financial Group stock opened at $76.34 on Monday. The firm’s 50 day moving average price is $81.79 and its 200-day moving average price is $82.17. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.97. The company has a market cap of $17.46 billion, a P/E ratio of -84.82, a PEG ratio of 0.92 and a beta of 1.22.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the previous year, the firm earned $1.72 EPS. On average, sell-side analysts predict that Principal Financial Group, Inc. will post 7.03 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a $0.73 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.82%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s payout ratio is presently -324.44%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Piper Sandler upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price objective for the company in a report on Wednesday, December 18th. Barclays lifted their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Royal Bank of Canada lifted their price objective on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods decreased their price objective on shares of Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $84.75.

Principal Financial Group 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.