Brooklyn FI LLC Takes $307,000 Position in Principal Financial Group, Inc. (NYSE:PFG)

Brooklyn FI LLC acquired a new position in Principal Financial Group, Inc. (NYSE:PFG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,648 shares of the company’s stock, valued at approximately $307,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ameriflex Group Inc. purchased a new stake in Principal Financial Group in the fourth quarter worth about $37,000. CTC Alternative Strategies Ltd. purchased a new stake in Principal Financial Group in the fourth quarter worth about $209,000. EDENTREE ASSET MANAGEMENT Ltd purchased a new stake in Principal Financial Group in the fourth quarter worth about $8,308,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Principal Financial Group by 12.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,246 shares of the company’s stock worth $145,318,000 after purchasing an additional 209,885 shares during the period. Finally, Voloridge Investment Management LLC grew its holdings in Principal Financial Group by 2.0% in the fourth quarter. Voloridge Investment Management LLC now owns 879,704 shares of the company’s stock worth $68,098,000 after purchasing an additional 17,600 shares during the period. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PFG shares. UBS Group cut their price objective on shares of Principal Financial Group from $93.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Piper Sandler upped their target price on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. Barclays dropped their target price on shares of Principal Financial Group from $80.00 to $76.00 and set an “underweight” rating on the stock in a research note on Friday, April 11th. Morgan Stanley upped their target price on shares of Principal Financial Group from $67.00 to $71.00 and gave the stock an “underweight” rating in a research note on Monday, May 19th. Finally, Wells Fargo & Company upped their target price on shares of Principal Financial Group from $68.00 to $69.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 29th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $83.85.

Principal Financial Group Stock Down 0.4%

Shares of Principal Financial Group stock opened at $77.01 on Tuesday. The company has a market cap of $17.26 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. The company’s 50 day moving average is $77.55 and its 200 day moving average is $80.84. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $91.98. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates 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 in the prior year, the company posted $1.65 EPS. Research analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be given a dividend of $0.76 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.95%. Principal Financial Group’s dividend payout ratio is 65.10%.

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.