Rockland Trust Co. Has $755,000 Position in Principal Financial Group, Inc. (NYSE:PFG)

Rockland Trust Co. lowered its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 5.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,753 shares of the company’s stock after selling 481 shares during the period. Rockland Trust Co.’s holdings in Principal Financial Group were worth $755,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Independent Advisor Alliance raised its holdings in shares of Principal Financial Group by 11.4% during the 4th quarter. Independent Advisor Alliance now owns 5,130 shares of the company’s stock valued at $404,000 after purchasing an additional 524 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Principal Financial Group by 12.3% during the 4th quarter. Hsbc Holdings PLC now owns 1,360,338 shares of the company’s stock valued at $107,030,000 after purchasing an additional 149,353 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Principal Financial Group by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,311,223 shares of the company’s stock valued at $103,154,000 after purchasing an additional 29,462 shares in the last quarter. Comerica Bank bought a new position in shares of Principal Financial Group during the 3rd quarter valued at $4,667,000. Finally, Jump Financial LLC bought a new position in shares of Principal Financial Group during the 4th quarter valued at $1,507,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock opened at $80.01 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $18.75 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 0.86 and a beta of 1.23. Principal Financial Group, Inc. has a 1-year low of $66.21 and a 1-year high of $86.79. The firm’s 50-day moving average price is $80.86 and its two-hundred day moving average price is $80.41.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.65 EPS for the quarter, missing the consensus estimate 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 company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period last year, the company earned $1.48 earnings per share. On average, equities analysts predict that Principal Financial Group, Inc. will post 7.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.71 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.69. This represents a $2.84 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend is Monday, June 3rd. Principal Financial Group’s dividend payout ratio is 54.20%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PFG. Morgan Stanley raised their price target on shares of Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Evercore ISI lifted 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 report on Thursday, April 11th. Keefe, Bruyette & Woods lifted their target price on shares of Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Wells Fargo & Company dropped their target price on shares of Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Finally, Piper Sandler lifted their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Two research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $80.30.

Principal Financial Group Company 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.