Midland Wealth Advisors LLC Purchases New Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Midland Wealth Advisors LLC purchased a new position in Principal Financial Group, Inc. (NYSE:PFG) during the first quarter, Holdings Channel.com reports. The institutional investor purchased 15,574 shares of the company’s stock, valued at approximately $1,314,000.

Other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at approximately $217,021,000. Deutsche Bank AG boosted its stake in Principal Financial Group by 73.5% during the fourth quarter. Deutsche Bank AG now owns 1,482,053 shares of the company’s stock worth $114,726,000 after buying an additional 627,865 shares during the last quarter. GAMMA Investing LLC grew its holdings in Principal Financial Group by 11,781.7% in the 1st quarter. GAMMA Investing LLC now owns 478,715 shares of the company’s stock valued at $40,389,000 after buying an additional 474,686 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Principal Financial Group in the 4th quarter worth $28,448,000. Finally, Northern Trust Corp raised its holdings in shares of Principal Financial Group by 9.8% during the 4th quarter. Northern Trust Corp now owns 3,662,918 shares of the company’s stock worth $283,546,000 after acquiring an additional 326,604 shares during the period. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Trading Up 1.4%

Shares of PFG stock opened at $76.97 on Monday. The stock has a market capitalization of $17.26 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 0.76 and a beta of 1.00. The company has a 50 day moving average price of $76.26 and a 200 day moving average price of $80.31. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29.

Principal Financial Group (NYSE:PFG) last announced 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 last year, the business earned $1.65 earnings per share. Equities research analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

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

Analyst Upgrades and Downgrades

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

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.