2,526 Shares in Principal Financial Group, Inc. (NYSE:PFG) Acquired by Wedmont Private Capital

Wedmont Private Capital acquired a new stake in Principal Financial Group, Inc. (NYSE:PFG) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 2,526 shares of the company’s stock, valued at approximately $209,000.

Other institutional investors also recently modified their holdings of the company. Spire Wealth Management grew its stake in shares of Principal Financial Group by 152.0% during the 4th quarter. Spire Wealth Management now owns 373 shares of the company’s stock worth $29,000 after acquiring an additional 225 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at approximately $31,000. Fortis Group Advisors LLC bought a new stake in Principal Financial Group in the 3rd quarter valued at $33,000. Newbridge Financial Services Group Inc. acquired a new stake in Principal Financial Group during the 4th quarter valued at $33,000. Finally, PrairieView Partners LLC bought a new position in Principal Financial Group during the fourth quarter worth $39,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Trading Down 0.3 %

NYSE:PFG opened at $80.01 on Monday. Principal Financial Group, Inc. has a one year low of $66.21 and a one year high of $86.79. The company has a market cap of $18.75 billion, a PE ratio of 11.92, a PEG ratio of 0.86 and a beta of 1.23. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a 50-day moving average of $80.86 and a 200-day moving average of $80.45.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $1.48 earnings per share. As a group, equities research analysts expect that Principal Financial Group, Inc. will post 7.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have recently issued reports 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. Evercore ISI increased their target price on 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. Wells Fargo & Company decreased their price objective on 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. Keefe, Bruyette & Woods boosted their target price on shares of Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Finally, Piper Sandler raised their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report 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 data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $80.30.

About Principal Financial Group

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.