Goelzer Investment Management Inc. Sells 993 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Goelzer Investment Management Inc. reduced its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 0.8% in the first quarter, HoldingsChannel reports. The firm owned 120,953 shares of the company’s stock after selling 993 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Principal Financial Group were worth $9,363,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Curio Wealth LLC bought a new position in shares of Principal Financial Group during the 4th quarter valued at approximately $29,000. BankPlus Trust Department bought a new position in shares of Principal Financial Group during the 4th quarter valued at approximately $33,000. Navigoe LLC bought a new position in shares of Principal Financial Group during the 4th quarter valued at approximately $37,000. Ameriflex Group Inc. bought a new position in shares of Principal Financial Group during the 4th quarter valued at approximately $37,000. Finally, Covestor Ltd grew its stake in shares of Principal Financial Group by 144.3% during the 4th quarter. Covestor Ltd now owns 540 shares of the company’s stock valued at $42,000 after acquiring an additional 319 shares during the period. 75.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Principal Financial Group from $68.00 to $69.00 and gave the company an “underweight” rating in a research note on Tuesday, April 29th. Keefe, Bruyette & Woods boosted their price objective on Principal Financial Group from $86.00 to $87.00 and gave the company a “market perform” rating in a research note on Wednesday, May 7th. UBS Group cut their price objective on Principal Financial Group from $93.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Piper Sandler boosted their price objective on Principal Financial Group from $93.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Finally, Barclays cut their price objective on Principal Financial Group from $80.00 to $76.00 and set an “underweight” rating for the company in a research note on Friday, April 11th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and a consensus price target of $83.85.

Principal Financial Group Stock Up 0.8%

NYSE PFG opened at $76.61 on Monday. The stock’s 50 day moving average is $76.57 and its 200 day moving average is $79.64. 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 12 month low of $68.39 and a 12 month high of $91.98. The stock has a market cap of $17.18 billion, a PE ratio of 11.47, a P/E/G ratio of 0.76 and a beta of 1.00.

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 analysts’ consensus estimates 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 period in the previous year, the firm earned $1.65 earnings per share. Research analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.97%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, June 2nd. Principal Financial Group’s dividend payout ratio is 65.10%.

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.