Foster & Motley Inc. Sells 1,842 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Foster & Motley Inc. reduced its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 4.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,196 shares of the company’s stock after selling 1,842 shares during the period. Foster & Motley Inc.’s holdings in Principal Financial Group were worth $2,848,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. lifted its holdings in Principal Financial Group by 143.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 384 shares of the company’s stock valued at $27,000 after purchasing an additional 226 shares during the last quarter. Fortis Group Advisors LLC bought a new position in shares of Principal Financial Group in the third quarter worth about $33,000. PrairieView Partners LLC bought a new position in shares of Principal Financial Group in the fourth quarter worth about $39,000. Valley National Advisers Inc. raised its stake in shares of Principal Financial Group by 81.7% in the third quarter. Valley National Advisers Inc. now owns 556 shares of the company’s stock worth $40,000 after acquiring an additional 250 shares during the last quarter. Finally, Anchor Investment Management LLC bought a new position in shares of Principal Financial Group in the fourth quarter worth about $40,000. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Stock Down 0.0 %

Principal Financial Group stock opened at $81.32 on Tuesday. Principal Financial Group, Inc. has a twelve month low of $65.17 and a twelve month high of $86.79. The company has a 50 day moving average of $81.68 and a 200-day moving average of $77.25. The stock has a market capitalization of $19.12 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 0.85 and a beta of 1.25. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.36.

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

Principal Financial Group announced that its board has initiated a stock buyback program on Monday, February 12th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 7.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were given a dividend of $0.69 per share. 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 3.39%. The ex-dividend date was Monday, March 11th. Principal Financial Group’s dividend payout ratio is 112.65%.

Analyst Ratings Changes

A number of research firms recently weighed in on PFG. Evercore ISI boosted their price target on shares of Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Morgan Stanley boosted their price target on shares of Principal Financial Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Piper Sandler boosted their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Wells Fargo & Company boosted their price objective on shares of Principal Financial Group from $86.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Finally, Royal Bank of Canada boosted their price objective on shares of Principal Financial Group from $75.00 to $83.00 and gave the company a “sector perform” rating in a report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Principal Financial Group presently has an average rating of “Hold” and an average target price of $80.64.

Principal Financial Group Company 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.