Principal Financial Group, Inc. (NYSE:PFG) Stake Raised by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,206 shares of the company’s stock after buying an additional 502 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Principal Financial Group were worth $9,924,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PFG. Legacy Financial Group LLC acquired a new position in shares of Principal Financial Group during the fourth quarter valued at $771,000. Columbus Macro LLC increased its stake in Principal Financial Group by 46.7% during the 4th quarter. Columbus Macro LLC now owns 25,653 shares of the company’s stock valued at $1,986,000 after buying an additional 8,169 shares during the period. Lecap Asset Management Ltd. raised its position in shares of Principal Financial Group by 135.6% during the 4th quarter. Lecap Asset Management Ltd. now owns 22,469 shares of the company’s stock worth $1,739,000 after buying an additional 12,933 shares in the last quarter. Quantbot Technologies LP lifted its stake in shares of Principal Financial Group by 2,064.3% in the 4th quarter. Quantbot Technologies LP now owns 148,299 shares of the company’s stock worth $11,480,000 after acquiring an additional 141,447 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Principal Financial Group by 2.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock worth $404,000 after acquiring an additional 132 shares during the period. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Down 0.4 %

Shares of Principal Financial Group stock opened at $76.56 on Tuesday. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $91.98. The stock has a 50-day moving average price of $79.23 and a 200 day moving average price of $81.49. The company has a market cap of $17.16 billion, a P/E ratio of 11.46, a P/E/G ratio of 0.76 and a beta of 1.01.

Principal Financial Group (NYSE:PFG) last posted its quarterly 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 return on equity of 14.68% and a net margin of 9.74%. During the same quarter last year, the firm earned $1.65 EPS. As a group, analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be paid a $0.76 dividend. The ex-dividend date is Monday, June 2nd. This is an increase 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 3.97%. Principal Financial Group’s dividend payout ratio is 65.10%.

Wall Street Analyst Weigh In

PFG has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Morgan Stanley cut their price objective on Principal Financial Group from $77.00 to $65.00 and set an “underweight” rating for the company in a report on Thursday, April 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th. Piper Sandler upped their price target on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 29th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $83.31.

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.