Sei Investments Co. Has $4.34 Million Position in Principal Financial Group, Inc. $PFG

Sei Investments Co. raised its holdings in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 16.6% in the first quarter, HoldingsChannel.com reports. The firm owned 48,184 shares of the company’s stock after buying an additional 6,872 shares during the period. Sei Investments Co.’s holdings in Principal Financial Group were worth $4,342,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. DV Equities LLC bought a new position in shares of Principal Financial Group in the fourth quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Principal Financial Group during the fourth quarter worth about $26,000. Hilton Head Capital Partners LLC bought a new stake in shares of Principal Financial Group during the fourth quarter worth about $26,000. Valley Wealth Managers Inc. bought a new position in Principal Financial Group in the 1st quarter valued at about $27,000. Finally, MBM Wealth Consultants LLC bought a new position in Principal Financial Group in the 1st quarter valued at about $28,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Insider Activity at Principal Financial Group

In other news, insider Wee Yee Cheong sold 7,534 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $103.16, for a total value of $777,207.44. Following the completion of the transaction, the insider directly owned 66,443 shares in the company, valued at approximately $6,854,259.88. This trade represents a 10.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.13% of the company’s stock.

Principal Financial Group Trading Down 0.3%

NASDAQ:PFG opened at $114.85 on Thursday. Principal Financial Group, Inc. has a 1 year low of $75.33 and a 1 year high of $116.27. The stock’s fifty day moving average price is $109.82 and its two-hundred day moving average price is $99.73. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market cap of $24.59 billion, a P/E ratio of 16.31, a P/E/G ratio of 1.05 and a beta of 0.88.

Principal Financial Group (NASDAQ:PFG) last announced its quarterly earnings results on Monday, July 27th. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.17. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.11 billion. Principal Financial Group had a return on equity of 16.49% and a net margin of 9.93%.During the same period in the previous year, the business earned $2.16 earnings per share. As a group, analysts expect that Principal Financial Group, Inc. will post 9.53 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 3rd will be issued a $0.84 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.82. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. Principal Financial Group’s payout ratio is currently 46.59%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PFG shares. Morgan Stanley upped their price target on Principal Financial Group from $107.00 to $112.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Raymond James Financial cut Principal Financial Group from a “strong-buy” rating to an “outperform” rating and lifted their target price for the stock from $99.00 to $111.00 in a research note on Tuesday, May 19th. Piper Sandler increased their price objective on Principal Financial Group from $113.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Atlantic Securities set a $94.00 price target on Principal Financial Group in a research note on Wednesday, July 15th. Finally, Evercore set a $108.00 price objective on Principal Financial Group in a report on Monday, April 27th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $105.83.

Principal Financial Group Company Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.