Citigroup Inc. grew its stake in Principal Financial Group, Inc. (NASDAQ:PFG – Get Rating) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 262,879 shares of the company’s stock after purchasing an additional 5,430 shares during the period. Citigroup Inc. owned approximately 0.10% of Principal Financial Group worth $19,014,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in shares of Principal Financial Group by 771.1% in the 4th quarter. Bank of America Corp DE now owns 11,090,467 shares of the company’s stock valued at $802,174,000 after purchasing an additional 9,817,312 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Principal Financial Group by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,935,131 shares of the company’s stock worth $316,997,000 after acquiring an additional 74,731 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Principal Financial Group by 23.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,781,997 shares of the company’s stock worth $307,960,000 after acquiring an additional 895,728 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Principal Financial Group by 28.5% during the 3rd quarter. Goldman Sachs Group Inc. now owns 2,194,889 shares of the company’s stock worth $141,351,000 after buying an additional 486,471 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its holdings in Principal Financial Group by 9.6% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 1,184,055 shares of the company’s stock worth $76,253,000 after buying an additional 103,992 shares in the last quarter. Institutional investors own 77.69% of the company’s stock.
Several research firms have issued reports on PFG. Piper Sandler upped their price objective on Principal Financial Group from $76.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday, April 6th. Barclays increased their price target on Principal Financial Group from $82.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday, February 9th. Morgan Stanley cut their price target on Principal Financial Group from $75.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 3rd. Royal Bank of Canada cut their price target on Principal Financial Group from $82.00 to $79.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 3rd. Finally, Wolfe Research initiated coverage on Principal Financial Group in a research note on Friday, January 21st. They issued a “market perform” rating and a $79.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Principal Financial Group currently has a consensus rating of “Hold” and a consensus price target of $74.27.
Principal Financial Group (NASDAQ:PFG – Get Rating) last released its earnings results on Thursday, April 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.07. Principal Financial Group had a return on equity of 12.25% and a net margin of 11.08%. During the same quarter in the previous year, the firm posted $1.53 earnings per share. On average, analysts forecast that Principal Financial Group, Inc. will post 6.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Thursday, June 2nd will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Wednesday, June 1st. Principal Financial Group’s dividend payout ratio (DPR) is presently 43.91%.
Principal Financial Group Profile (Get Rating)
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 Global Investors, Principal International, and U.S. Insurance Solutions segments.
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