Diversified Trust Co Has $1.94 Million Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Diversified Trust Co grew its position in Principal Financial Group, Inc. (NYSE:PFG) by 51.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 22,505 shares of the company’s stock after purchasing an additional 7,626 shares during the period. Diversified Trust Co’s holdings in Principal Financial Group were worth $1,942,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Spire Wealth Management grew its stake in shares of Principal Financial Group by 152.0% during the fourth quarter. Spire Wealth Management now owns 373 shares of the company’s stock worth $29,000 after purchasing an additional 225 shares during the period. Riverview Trust Co acquired a new stake in shares of Principal Financial Group during the first quarter worth $34,000. EdgeRock Capital LLC acquired a new stake in shares of Principal Financial Group during the fourth quarter worth $31,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Principal Financial Group during the fourth quarter worth $33,000. Finally, Fortis Group Advisors LLC acquired a new stake in shares of Principal Financial Group during the third quarter worth $33,000. 75.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PFG. Keefe, Bruyette & Woods lifted their target price on 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 reduced their target price 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. Piper Sandler lifted their target price on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Evercore ISI lifted their target price on Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Finally, Morgan Stanley boosted their price target on Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Two analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $81.50.

Principal Financial Group Stock Down 0.6 %

PFG traded down $0.45 on Monday, hitting $78.00. 264,576 shares of the company were exchanged, compared to its average volume of 1,082,210. Principal Financial Group, Inc. has a 12 month low of $66.21 and a 12 month high of $86.79. The company has a market cap of $18.28 billion, a PE ratio of 14.97, a PEG ratio of 0.85 and a beta of 1.23. 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 stock’s fifty day moving average is $80.93 and its 200-day moving average is $80.58.

Principal Financial Group (NYSE:PFG) last announced its quarterly 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). 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 period last year, the firm earned $1.48 EPS. Equities research analysts predict that Principal Financial Group, Inc. will post 7.45 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Monday, June 3rd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.69. Principal Financial Group’s payout ratio is 54.20%.

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.