Mather Group LLC. Makes New Investment in Principal Financial Group, Inc. (NYSE:PFG)

Mather Group LLC. acquired a new position in shares of Principal Financial Group, Inc. (NYSE:PFG) during the 1st quarter, Holdings Channel.com reports. The fund acquired 2,117 shares of the company’s stock, valued at approximately $167,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PFG. Norges Bank purchased a new position in Principal Financial Group during the 4th quarter worth $253,990,000. RIA Advisory Group LLC lifted its stake in shares of Principal Financial Group by 35,473.1% in the 4th quarter. RIA Advisory Group LLC now owns 1,080,000 shares of the company’s stock worth $84,964,000 after acquiring an additional 1,076,964 shares during the period. Wellington Management Group LLP lifted its stake in shares of Principal Financial Group by 15.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,423,975 shares of the company’s stock worth $318,836,000 after acquiring an additional 575,646 shares during the period. Pinebridge Investments L.P. lifted its stake in shares of Principal Financial Group by 2,594.0% in the 4th quarter. Pinebridge Investments L.P. now owns 575,986 shares of the company’s stock worth $45,313,000 after acquiring an additional 554,606 shares during the period. Finally, Trust Point Inc. acquired a new stake in shares of Principal Financial Group in the 4th quarter worth $30,290,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Up 2.4 %

Shares of NYSE PFG opened at $80.25 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 52 week low of $66.21 and a 52 week high of $86.79. The firm has a 50-day moving average price of $80.86 and a 200 day moving average price of $80.33. The stock has a market capitalization of $18.81 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 0.84 and a beta of 1.23.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, April 25th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.68 billion. Principal Financial Group had a return on equity of 15.06% and a net margin of 8.70%. During the same quarter in the previous year, the firm posted $1.48 EPS. Equities research analysts anticipate that Principal Financial Group, Inc. will post 7.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 3.54%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.69. Principal Financial Group’s payout ratio is presently 54.20%.

Analysts Set New Price Targets

Several analysts have recently commented on PFG shares. Wells Fargo & Company reduced their target price on shares of Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating for the company in a research note on Monday, April 29th. 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. 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. Keefe, Bruyette & Woods raised 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 research note on Wednesday, April 10th. Finally, Piper Sandler raised their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Two investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to MarketBeat.com, Principal Financial Group currently has a consensus rating of “Hold” and an average target price of $80.30.

Principal Financial Group 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.