Principal Financial Group, Inc. (NYSE:PFG) Shares Purchased by First Pacific Financial

First Pacific Financial lifted its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 91.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 564 shares of the company’s stock after purchasing an additional 269 shares during the quarter. First Pacific Financial’s holdings in Principal Financial Group were worth $44,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GHP Investment Advisors Inc. boosted its holdings in shares of Principal Financial Group by 143.0% in the third quarter. GHP Investment Advisors Inc. now owns 384 shares of the company’s stock worth $27,000 after buying an additional 226 shares during the period. ICA Group Wealth Management LLC raised its position in shares of Principal Financial Group by 100.0% in the first quarter. ICA Group Wealth Management LLC now owns 400 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the period. Fortis Group Advisors LLC bought a new stake in Principal Financial Group during the third quarter valued at about $33,000. Clear Street Markets LLC boosted its position in shares of Principal Financial Group by 96.1% in the first quarter. Clear Street Markets LLC now owns 449 shares of the company’s stock valued at $33,000 after acquiring an additional 220 shares during the period. Finally, Point72 Middle East FZE bought a new position in Principal Financial Group during the fourth quarter valued at about $39,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Performance

Shares of PFG opened at $86.07 on Thursday. Principal Financial Group, Inc. has a 52 week low of $65.17 and a 52 week high of $86.08. The stock has a 50 day moving average price of $80.22 and a two-hundred day moving average price of $76.06. The firm has a market capitalization of $20.30 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.05 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.30.

Principal Financial Group (NYSE:PFG) last posted its 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. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $3.53 billion. Principal Financial Group had a return on equity of 15.14% and a net margin of 4.56%. During the same quarter in the prior year, the business posted $1.70 earnings per share. Equities analysts forecast that Principal Financial Group, Inc. will post 7.6 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Tuesday, March 12th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Monday, March 11th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.67. Principal Financial Group’s dividend payout ratio is currently 112.65%.

Principal Financial Group announced that its board has authorized a share buyback program on Monday, February 12th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to purchase up to 7.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Morgan Stanley raised their price target on Principal Financial Group from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Tuesday, February 13th. Keefe, Bruyette & Woods upped their target price on shares of Principal Financial Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Friday, February 16th. Royal Bank of Canada upped their price objective on Principal Financial Group from $75.00 to $83.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 14th. Finally, Evercore ISI upgraded shares of Principal Financial Group from an “underperform” rating to an “inline” rating and upped their price objective for the company from $82.00 to $83.00 in a report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating and nine have issued 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 a consensus price target of $76.18.

Principal Financial Group 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.