Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Centennial Wealth Advisory LLC

Centennial Wealth Advisory LLC cut its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,505 shares of the company’s stock after selling 243 shares during the quarter. Centennial Wealth Advisory LLC’s holdings in Principal Financial Group were worth $354,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PFG. Ellevest Inc. lifted its holdings in Principal Financial Group by 3.3% in the third quarter. Ellevest Inc. now owns 4,644 shares of the company’s stock valued at $335,000 after acquiring an additional 149 shares during the period. Ronald Blue Trust Inc. lifted its holdings in Principal Financial Group by 26.6% in the third quarter. Ronald Blue Trust Inc. now owns 713 shares of the company’s stock valued at $54,000 after acquiring an additional 150 shares during the period. Merit Financial Group LLC lifted its holdings in Principal Financial Group by 2.3% in the third quarter. Merit Financial Group LLC now owns 6,947 shares of the company’s stock valued at $501,000 after acquiring an additional 153 shares during the period. IHT Wealth Management LLC lifted its holdings in Principal Financial Group by 6.1% in the second quarter. IHT Wealth Management LLC now owns 2,886 shares of the company’s stock valued at $219,000 after acquiring an additional 167 shares during the period. Finally, Pinion Investment Advisors LLC raised its stake in shares of Principal Financial Group by 1.9% during the 3rd quarter. Pinion Investment Advisors LLC now owns 9,193 shares of the company’s stock worth $663,000 after buying an additional 169 shares during the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PFG shares. Keefe, Bruyette & Woods lifted their price target on Principal Financial Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Friday, February 16th. Evercore ISI raised Principal Financial Group from an “underperform” rating to an “inline” rating and lifted their price target for the stock from $82.00 to $83.00 in a research note on Thursday, January 4th. Morgan Stanley lifted their price target on Principal Financial Group from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 13th. Finally, Royal Bank of Canada lifted their price target on Principal Financial Group from $75.00 to $83.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $76.18.

Principal Financial Group Stock Up 0.0 %

Shares of NYSE:PFG opened at $84.49 on Wednesday. The stock has a 50-day simple moving average of $80.10 and a 200-day simple moving average of $76.00. The stock has a market capitalization of $19.93 billion, a P/E ratio of 34.49, a PEG ratio of 1.05 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.30. Principal Financial Group, Inc. has a 1 year low of $65.17 and a 1 year high of $85.09.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Monday, February 12th. The company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.70 by $0.13. The firm had revenue of $2.69 billion for the quarter, compared to analyst estimates of $3.53 billion. Principal Financial Group had a return on equity of 15.14% and a net margin of 4.56%. During the same period in the previous year, the company posted $1.70 EPS. Equities analysts forecast that Principal Financial Group, Inc. will post 7.6 earnings per share for the current year.

Principal Financial Group declared that its Board of Directors has initiated a share buyback plan on Monday, February 12th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 7.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Tuesday, March 12th will be given a dividend of $0.69 per share. The ex-dividend date is Monday, March 11th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.67. This represents a $2.76 annualized dividend and a yield of 3.27%. Principal Financial Group’s payout ratio is 112.65%.

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.