Bfsg LLC Takes Position in Principal Financial Group, Inc. (NYSE:PFG)

Bfsg LLC bought a new stake in Principal Financial Group, Inc. (NYSE:PFG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 880 shares of the company’s stock, valued at approximately $69,000.

Other institutional investors also recently modified their holdings of the company. GHP Investment Advisors Inc. lifted its stake in Principal Financial Group by 143.0% in the third 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 purchased a new position in Principal Financial Group in the third quarter valued at approximately $33,000. PrairieView Partners LLC purchased a new position in Principal Financial Group in the fourth quarter valued at approximately $39,000. Valley National Advisers Inc. lifted its stake in Principal Financial Group by 81.7% in the third quarter. Valley National Advisers Inc. now owns 556 shares of the company’s stock valued at $40,000 after purchasing an additional 250 shares during the last quarter. Finally, Anchor Investment Management LLC purchased a new position in Principal Financial Group in the fourth quarter valued at approximately $40,000. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Stock Up 0.1 %

NYSE PFG opened at $81.11 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $19.07 billion, a PE ratio of 33.09, a PEG ratio of 0.87 and a beta of 1.25. Principal Financial Group, Inc. has a 1 year low of $65.17 and a 1 year high of $86.79. The business’s 50-day moving average is $81.80 and its 200 day moving average is $77.39.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.09). Principal Financial Group had a return on equity of 15.14% and a net margin of 4.56%. During the same quarter in the previous year, the business earned $1.48 earnings per share. Sell-side analysts forecast that Principal Financial Group, Inc. will post 7.6 earnings per share for the current year.

Principal Financial Group announced that its board has approved a share repurchase program on Monday, February 12th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to buy up to 7.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 12th were issued a $0.69 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.67. This represents a $2.76 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Monday, March 11th. Principal Financial Group’s payout ratio is presently 112.65%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PFG. Keefe, Bruyette & Woods upped their price objective on Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Morgan Stanley increased their target price on Principal Financial Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Wells Fargo & Company increased their target price on Principal Financial Group from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Piper Sandler increased their target price on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Finally, Evercore ISI increased their price objective on Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.