Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Nemes Rush Group LLC

Nemes Rush Group LLC decreased its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 33.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,506 shares of the company’s stock after selling 771 shares during the quarter. Nemes Rush Group LLC’s holdings in Principal Financial Group were worth $118,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management grew its stake in shares of Principal Financial Group by 152.0% in the fourth quarter. Spire Wealth Management now owns 373 shares of the company’s stock worth $29,000 after acquiring an additional 225 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in Principal Financial Group in the 4th quarter valued at about $31,000. Fortis Group Advisors LLC acquired a new stake in Principal Financial Group in the 3rd quarter valued at about $33,000. PrairieView Partners LLC acquired a new position in shares of Principal Financial Group during the fourth quarter worth about $39,000. Finally, Valley National Advisers Inc. raised its holdings in Principal Financial Group by 81.7% in the third quarter. Valley National Advisers Inc. now owns 556 shares of the company’s stock valued at $40,000 after acquiring an additional 250 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of PFG stock traded down $0.07 during mid-day trading on Wednesday, hitting $83.42. The stock had a trading volume of 217,254 shares, compared to its average volume of 1,082,311. The firm has a market cap of $19.55 billion, a PE ratio of 15.93, a PEG ratio of 0.90 and a beta of 1.24. The company’s 50-day simple moving average is $82.60 and its 200-day simple moving average is $79.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.29 and a quick ratio of 0.29. Principal Financial Group, Inc. has a fifty-two week low of $65.17 and a fifty-two week high of $86.79.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data 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 net margin of 8.70% and a return on equity of 15.06%. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the business earned $1.48 EPS. Sell-side analysts anticipate that Principal Financial Group, Inc. will post 7.5 earnings per share for the current year.

Principal Financial Group announced that its board has approved a share repurchase program on Monday, February 12th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 7.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd will be given a $0.71 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.84 annualized dividend and a yield of 3.40%. Principal Financial Group’s dividend payout ratio is presently 52.67%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Evercore ISI upped their price objective on Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Wells Fargo & Company reduced their price objective on shares of Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, April 29th. Piper Sandler increased 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. Keefe, Bruyette & Woods raised their price objective on Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Finally, Royal Bank of Canada raised their price target 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. Two analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $80.30.

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.