Nilsine Partners LLC Boosts Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Nilsine Partners LLC lifted its stake in Principal Financial Group, Inc. (NYSE:PFG) by 12.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,710 shares of the company’s stock after purchasing an additional 423 shares during the period. Nilsine Partners LLC’s holdings in Principal Financial Group were worth $320,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP lifted its position 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 purchasing an additional 575,646 shares during the period. Northern Trust Corp lifted its position in shares of Principal Financial Group by 0.4% in the 3rd quarter. Northern Trust Corp now owns 3,920,915 shares of the company’s stock worth $282,580,000 after purchasing an additional 16,052 shares during the period. Norges Bank purchased a new stake in shares of Principal Financial Group in the 4th quarter worth about $253,990,000. First Trust Advisors LP lifted its position in shares of Principal Financial Group by 5.5% in the 4th quarter. First Trust Advisors LP now owns 2,783,578 shares of the company’s stock worth $218,984,000 after purchasing an additional 144,262 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Principal Financial Group by 12.6% in the 3rd quarter. Invesco Ltd. now owns 2,231,757 shares of the company’s stock worth $160,843,000 after purchasing an additional 249,127 shares during the period. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Down 1.6 %

NYSE:PFG traded down $1.29 on Tuesday, reaching $79.14. 1,065,667 shares of the stock traded hands, compared to its average volume of 1,133,399. The company’s fifty day simple moving average is $81.77 and its 200 day simple moving average is $77.69. Principal Financial Group, Inc. has a 12 month low of $65.17 and a 12 month high of $86.79. The company has a market capitalization of $18.61 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 0.84 and a beta of 1.25. The company has a current ratio of 0.27, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). Principal Financial Group had a return on equity of 15.06% and a net margin of 8.70%. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the prior year, the firm earned $1.48 earnings per share. Equities analysts predict that Principal Financial Group, Inc. will post 7.58 EPS for the current fiscal year.

Principal Financial Group declared that its board has initiated a share repurchase program on Monday, February 12th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 7.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 12th were issued a $0.69 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.49%. Principal Financial Group’s dividend payout ratio (DPR) is presently 52.67%.

Wall Street Analyst Weigh In

PFG has been the subject of several research reports. Morgan Stanley increased their price target 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. Piper Sandler increased 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 note on Friday, April 5th. Evercore ISI increased their price target 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. Keefe, Bruyette & Woods increased their price target on shares of Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada increased their price target on shares of Principal Financial Group from $75.00 to $83.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $80.09.

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.