27,115 Shares in Principal Financial Group, Inc. $PFG Purchased by iSAM Funds UK Ltd

iSAM Funds UK Ltd purchased a new stake in Principal Financial Group, Inc. (NASDAQ:PFG) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 27,115 shares of the company’s stock, valued at approximately $2,248,000.

Several other institutional investors have also recently made changes to their positions in PFG. Integrated Wealth Concepts LLC acquired a new position in Principal Financial Group during the first quarter worth $244,000. NewEdge Advisors LLC lifted its stake in Principal Financial Group by 24.1% in the first quarter. NewEdge Advisors LLC now owns 7,503 shares of the company’s stock valued at $633,000 after acquiring an additional 1,455 shares during the last quarter. Empowered Funds LLC grew its position in shares of Principal Financial Group by 11.9% in the 1st quarter. Empowered Funds LLC now owns 4,678 shares of the company’s stock valued at $395,000 after acquiring an additional 497 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Principal Financial Group by 26.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 62,047 shares of the company’s stock valued at $4,928,000 after acquiring an additional 12,864 shares during the period. Finally, Allworth Financial LP increased its stake in shares of Principal Financial Group by 4.6% during the 2nd quarter. Allworth Financial LP now owns 8,299 shares of the company’s stock worth $659,000 after purchasing an additional 362 shares during 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 opened at $85.83 on Friday. The company has a market capitalization of $18.61 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 0.80 and a beta of 0.87. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27. The company has a 50-day simple moving average of $92.33 and a 200 day simple moving average of $86.68. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $97.88.

Principal Financial Group (NASDAQ:PFG) last released its quarterly earnings results on Wednesday, February 18th. The company reported $2.20 earnings per share for the quarter. The firm had revenue of $4.58 billion for the quarter. Principal Financial Group had a net margin of 7.58% and a return on equity of 16.09%.

Principal Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Wednesday, March 11th will be given a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $3.20 annualized dividend and a dividend yield of 3.7%. Principal Financial Group’s dividend payout ratio is presently 60.72%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Piper Sandler upped their target price on shares of Principal Financial Group from $94.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, December 23rd. Bank of America boosted their price target on Principal Financial Group from $95.00 to $96.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Wells Fargo & Company upgraded Principal Financial Group from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $85.00 to $91.00 in a research note on Wednesday, February 25th. Morgan Stanley raised their price objective on Principal Financial Group from $93.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 3rd. Finally, UBS Group boosted their target price on Principal Financial Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $94.11.

Insider Buying and Selling at Principal Financial Group

In other news, CEO Deanna D. Strable-Soethout sold 9,300 shares of the stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $95.12, for a total transaction of $884,616.00. Following the transaction, the chief executive officer owned 144,168 shares in the company, valued at approximately $13,713,260.16. This trade represents a 6.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 24,965 shares of company stock worth $2,352,460 in the last 90 days. 1.08% of the stock is currently owned by company insiders.

Principal Financial Group Company Profile

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.