Groupama Asset Managment Invests $1.79 Million in Principal Financial Group, Inc. $PFG

Groupama Asset Managment acquired a new position in shares of Principal Financial Group, Inc. (NASDAQ:PFG) in the third quarter, Holdings Channel reports. The institutional investor acquired 21,535 shares of the company’s stock, valued at approximately $1,785,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aptus Capital Advisors LLC lifted its position in Principal Financial Group by 3.5% in the third quarter. Aptus Capital Advisors LLC now owns 3,444 shares of the company’s stock valued at $286,000 after buying an additional 118 shares during the last quarter. Hazlett Burt & Watson Inc. increased its position in shares of Principal Financial Group by 22.3% during the third quarter. Hazlett Burt & Watson Inc. now owns 713 shares of the company’s stock valued at $59,000 after acquiring an additional 130 shares during the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of Principal Financial Group by 1.0% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 13,800 shares of the company’s stock valued at $1,144,000 after acquiring an additional 137 shares during the period. Clearstead Advisors LLC lifted its holdings in shares of Principal Financial Group by 18.3% in the 3rd quarter. Clearstead Advisors LLC now owns 907 shares of the company’s stock worth $75,000 after acquiring an additional 140 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Principal Financial Group by 6.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,429 shares of the company’s stock worth $201,000 after acquiring an additional 151 shares during the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Trading Down 0.9%

Shares of PFG stock opened at $85.90 on Friday. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $97.88. The company has a 50 day moving average price of $91.96 and a 200 day moving average price of $86.85. The stock has a market capitalization of $18.63 billion, a P/E ratio of 16.30, a price-to-earnings-growth ratio of 0.81 and a beta of 0.87. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27.

Principal Financial Group (NASDAQ:PFG) last released its earnings results on Wednesday, February 18th. The company reported $2.20 earnings per share (EPS) for the quarter. Principal Financial Group had a net margin of 7.58% and a return on equity of 16.09%. The company had revenue of $4.58 billion for the quarter.

Principal Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Wednesday, March 11th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Wednesday, March 11th. Principal Financial Group’s dividend payout ratio (DPR) is presently 60.72%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PFG. Weiss Ratings upgraded shares of Principal Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Morgan Stanley upped their price target on Principal Financial Group from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 3rd. Piper Sandler raised their price target on Principal Financial Group from $94.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 23rd. Wells Fargo & Company raised Principal Financial Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $85.00 to $91.00 in a research note on Wednesday, February 25th. Finally, Bank of America boosted their price objective on Principal Financial Group from $95.00 to $96.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Principal Financial Group presently has an average rating of “Hold” and a consensus target price of $94.11.

Insider Activity

In related news, CEO Deanna D. Strable-Soethout sold 7,340 shares of Principal Financial Group stock in a transaction on Friday, January 30th. The stock was sold at an average price of $95.00, for a total value of $697,300.00. Following the completion of the transaction, the chief executive officer directly owned 136,828 shares in the company, valued at approximately $12,998,660. This trade represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 24,965 shares of company stock valued at $2,352,460 in the last 90 days. 1.08% of the stock is currently owned by company insiders.

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.