M&T Bank Corp Grows Stock Position in Principal Financial Group, Inc. $PFG

M&T Bank Corp lifted its stake in Principal Financial Group, Inc. (NASDAQ:PFG) by 332.5% in the fourth quarter, HoldingsChannel reports. The firm owned 17,069 shares of the company’s stock after acquiring an additional 13,122 shares during the quarter. M&T Bank Corp’s holdings in Principal Financial Group were worth $1,506,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Principal Financial Group by 49.2% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 207,809 shares of the company’s stock valued at $18,374,000 after purchasing an additional 68,524 shares during the period. Checchi Capital Advisers LLC raised its stake in Principal Financial Group by 6.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,271 shares of the company’s stock valued at $289,000 after buying an additional 197 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Principal Financial Group by 10.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 280,919 shares of the company’s stock valued at $24,780,000 after buying an additional 26,021 shares in the last quarter. Krilogy Financial LLC raised its stake in Principal Financial Group by 14.5% in the fourth quarter. Krilogy Financial LLC now owns 5,048 shares of the company’s stock valued at $469,000 after buying an additional 641 shares in the last quarter. Finally, Berkshire Money Management Inc. acquired a new stake in Principal Financial Group in the fourth quarter valued at $284,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Down 0.4%

PFG opened at $99.63 on Thursday. The business’s 50-day simple moving average is $92.20 and its 200-day simple moving average is $89.12. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.24. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $101.54. The stock has a market capitalization of $21.59 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 0.94 and a beta of 0.87.

Principal Financial Group (NASDAQ:PFG) last posted its earnings results on Wednesday, April 29th. The company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.06. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.The business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the previous year, the firm earned $1.81 earnings per share. Analysts anticipate that Principal Financial Group, Inc. will post 9.31 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 1st will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.80. The ex-dividend date is Monday, June 1st. Principal Financial Group’s payout ratio is presently 45.78%.

Insider Activity at Principal Financial Group

In other news, CEO Deanna D. Strable-Soethout sold 7,340 shares of Principal Financial Group stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $95.00, for a total transaction of $697,300.00. Following the sale, the chief executive officer owned 136,828 shares in the company, valued at approximately $12,998,660. The trade was a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PFG shares. UBS Group raised their price target on Principal Financial Group from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Morgan Stanley raised their price target on Principal Financial Group from $93.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $103.00 price target on shares of Principal Financial Group in a research note on Monday, January 5th. Bank of America cut their price target on Principal Financial Group from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Finally, Wells Fargo & Company cut their price target on Principal Financial Group from $91.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Friday, April 10th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $95.33.

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.