Tokio Marine Asset Management Co. Ltd. Boosts Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,329 shares of the company’s stock after buying an additional 392 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Principal Financial Group were worth $498,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Merit Financial Group LLC boosted its holdings in shares of Principal Financial Group by 2.3% during the 3rd quarter. Merit Financial Group LLC now owns 6,947 shares of the company’s stock worth $501,000 after purchasing an additional 153 shares during the last quarter. Comerica Bank acquired a new position in shares of Principal Financial Group during the 3rd quarter worth approximately $4,667,000. AustralianSuper Pty Ltd boosted its holdings in shares of Principal Financial Group by 15.8% during the 4th quarter. AustralianSuper Pty Ltd now owns 277,157 shares of the company’s stock worth $21,804,000 after purchasing an additional 37,836 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Principal Financial Group by 15.0% during the 3rd quarter. Wellington Management Group LLP now owns 4,423,975 shares of the company’s stock worth $318,836,000 after purchasing an additional 575,646 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Principal Financial Group by 1,218.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 250,602 shares of the company’s stock worth $19,715,000 after purchasing an additional 231,601 shares during the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Down 2.4 %

NYSE:PFG opened at $79.12 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.36. The stock’s fifty day moving average is $81.78 and its two-hundred day moving average is $77.50. Principal Financial Group, Inc. has a 52 week low of $65.17 and a 52 week high of $86.79. The stock has a market capitalization of $18.61 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 0.84 and a beta of 1.25.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). Principal Financial Group had a return on equity of 15.25% and a net margin of 8.70%. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter last year, the company earned $1.48 earnings per share. Research analysts anticipate that Principal Financial Group, Inc. will post 7.58 EPS for the current year.

Principal Financial Group declared that its board has approved a share repurchase program on Monday, February 12th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to purchase up to 7.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.49%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.67. The ex-dividend date was Monday, March 11th. Principal Financial Group’s dividend payout ratio is 52.67%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Principal Financial Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Evercore ISI boosted their target price on Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Piper Sandler upped their price objective on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Royal Bank of Canada upped their price objective on Principal Financial Group from $75.00 to $83.00 and gave the company a “sector perform” rating in a report on Wednesday, February 14th. Finally, 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 report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.