Vanguard Group Inc. Has $2.38 Billion Holdings in Principal Financial Group, Inc. $PFG

Vanguard Group Inc. trimmed its holdings in Principal Financial Group, Inc. (NASDAQ:PFG) by 0.6% in the fourth quarter, Holdings Channel reports. The fund owned 26,969,104 shares of the company’s stock after selling 162,252 shares during the period. Vanguard Group Inc. owned 0.12% of Principal Financial Group worth $2,378,945,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Principal Financial Group during the 4th quarter worth approximately $26,000. FWL Investment Management LLC acquired a new position in shares of Principal Financial Group in the third quarter valued at approximately $32,000. Rialto Wealth Management LLC increased its position in shares of Principal Financial Group by 3,754.5% during the fourth quarter. Rialto Wealth Management LLC now owns 424 shares of the company’s stock worth $37,000 after acquiring an additional 413 shares in the last quarter. Princeton Global Asset Management LLC increased its position in shares of Principal Financial Group by 315.7% during the fourth quarter. Princeton Global Asset Management LLC now owns 424 shares of the company’s stock worth $37,000 after acquiring an additional 322 shares in the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Principal Financial Group during the fourth quarter worth $38,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Trading Down 0.4%

Shares of NASDAQ:PFG opened at $99.63 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.24 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average of $92.20 and a 200-day moving average of $89.12. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $101.54. The stock has a market cap of $21.59 billion, a PE ratio of 14.25, a P/E/G ratio of 0.94 and a beta of 0.87.

Principal Financial Group (NASDAQ:PFG) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.06. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter last year, the business earned $1.81 EPS. As a group, equities research analysts forecast that Principal Financial Group, Inc. will post 9.31 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.82 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.80. The ex-dividend date is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 3.3%. Principal Financial Group’s dividend payout ratio is 45.78%.

Insider Activity

In other news, CEO Deanna D. Strable-Soethout sold 7,340 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $95.00, for a total transaction of $697,300.00. Following the sale, the chief executive officer directly owned 136,828 shares of the company’s stock, valued at approximately $12,998,660. This represents a 5.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PFG shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $92.00 target price on shares of Principal Financial Group in a research note on Thursday, March 26th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $103.00 price objective on shares of Principal Financial Group in a report on Monday, January 5th. Barclays upped their price target on Principal Financial Group from $85.00 to $87.00 and gave the stock an “underweight” rating in a research report on Friday, April 24th. Morgan Stanley increased their target price on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. Finally, Evercore set a $108.00 price target on shares of Principal Financial Group in a research note on Monday. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $95.33.

About Principal Financial Group

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.