Bfsg LLC Invests $69,000 in Principal Financial Group, Inc. (NYSE:PFG)

Bfsg LLC acquired a new position in Principal Financial Group, Inc. (NYSE:PFG) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 880 shares of the company’s stock, valued at approximately $69,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PFG. RIA Advisory Group LLC increased its stake in shares of Principal Financial Group by 35,473.1% in the fourth quarter. RIA Advisory Group LLC now owns 1,080,000 shares of the company’s stock worth $84,964,000 after acquiring an additional 1,076,964 shares during the period. Wellington Management Group LLP grew its position in Principal Financial Group by 15.0% during the third quarter. Wellington Management Group LLP now owns 4,423,975 shares of the company’s stock valued at $318,836,000 after buying an additional 575,646 shares during the period. Hsbc Holdings PLC grew its position in Principal Financial Group by 60.5% during the third quarter. Hsbc Holdings PLC now owns 1,210,985 shares of the company’s stock valued at $87,305,000 after buying an additional 456,455 shares during the period. Trust Point Inc. acquired a new stake in Principal Financial Group during the fourth quarter valued at $30,290,000. Finally, QRG Capital Management Inc. acquired a new stake in Principal Financial Group during the third quarter valued at $22,726,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

NYSE:PFG opened at $81.11 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market capitalization of $19.07 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 0.87 and a beta of 1.25. The company’s 50-day moving average is $81.80 and its two-hundred day moving average is $77.39. Principal Financial Group, Inc. has a 1-year low of $65.17 and a 1-year high of $86.79.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, April 25th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.09). Principal Financial Group had a return on equity of 15.14% and a net margin of 4.56%. During the same quarter in the previous year, the company earned $1.48 EPS. Analysts forecast that Principal Financial Group, Inc. will post 7.6 EPS for the current year.

Principal Financial Group announced that its Board of Directors has approved a share buyback plan on Monday, February 12th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 7.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were given a $0.69 dividend. The ex-dividend date of this dividend was Monday, March 11th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.67. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.40%. Principal Financial Group’s dividend payout ratio is currently 112.65%.

Analysts Set New Price Targets

PFG has been the topic of several analyst reports. Royal Bank of Canada raised their price target on shares of Principal Financial Group from $75.00 to $83.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 14th. Keefe, Bruyette & Woods lifted their target price on shares of Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Morgan Stanley lifted their target price on shares of Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Piper Sandler lifted their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, Wells Fargo & Company lifted their target price on shares of Principal Financial Group from $86.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. Based on data from MarketBeat, Principal Financial Group has an average rating of “Hold” and an average target price of $80.64.

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.