Dimensional Fund Advisors LP Sells 47,525 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Dimensional Fund Advisors LP lessened its holdings in Principal Financial Group, Inc. (NYSE:PFGFree Report) by 1.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,875,462 shares of the company’s stock after selling 47,525 shares during the period. Dimensional Fund Advisors LP’s holdings in Principal Financial Group were worth $304,903,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Jump Financial LLC bought a new position in shares of Principal Financial Group in the 4th quarter worth approximately $1,507,000. Qsemble Capital Management LP raised its stake in Principal Financial Group by 228.4% during the 4th quarter. Qsemble Capital Management LP now owns 12,808 shares of the company’s stock worth $1,008,000 after acquiring an additional 8,908 shares during the period. Principal Securities Inc. bought a new stake in Principal Financial Group during the 4th quarter worth approximately $143,000. EdgeRock Capital LLC bought a new stake in Principal Financial Group during the 4th quarter worth approximately $31,000. Finally, Centric Wealth Management raised its stake in Principal Financial Group by 11.3% during the 4th quarter. Centric Wealth Management now owns 20,449 shares of the company’s stock worth $1,585,000 after acquiring an additional 2,080 shares during the period. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Price Performance

PFG traded up $0.19 during trading on Monday, reaching $84.15. 200,755 shares of the company traded hands, compared to its average volume of 1,107,710. The firm has a fifty day simple moving average of $82.06 and a 200 day simple moving average of $78.34. Principal Financial Group, Inc. has a 12-month low of $65.17 and a 12-month high of $86.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $19.72 billion, a P/E ratio of 16.15, a PEG ratio of 0.90 and a beta of 1.24.

Principal Financial Group (NYSE:PFGGet Free Report) last posted its earnings results on Thursday, April 25th. The company reported $1.65 earnings per share 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 business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period last year, the business posted $1.48 earnings per share. On average, equities analysts forecast that Principal Financial Group, Inc. will post 7.52 EPS for the current year.

Principal Financial Group declared that its board has authorized a share repurchase plan on Monday, February 12th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to purchase up to 7.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Monday, June 3rd will be issued a $0.71 dividend. The ex-dividend date is Monday, June 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.69. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.37%. Principal Financial Group’s dividend payout ratio (DPR) is 52.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PFG shares. Morgan Stanley raised their target price on shares of Principal Financial Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Piper Sandler raised their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Evercore ISI raised their target price on shares of Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Royal Bank of Canada raised their target price on shares of 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. Finally, Keefe, Bruyette & Woods increased their price objective on shares of 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 investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $80.30.

View Our Latest Stock Report on Principal Financial Group

About Principal Financial Group

(Free Report)

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.

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Institutional Ownership by Quarter for Principal Financial Group (NYSE:PFG)

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