Bank of America Corp DE Grows Stake in Principal Financial Group, Inc. $PFG

Posted by Geri Gentry on Aug 1st, 2026

Bank of America Corp DE increased its stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG – Free Report) by 5.0% in the 1st quarter, Holdings Channel reports. The firm owned 8,819,452 shares of the company’s stock after purchasing an additional 420,319 shares during the period. Bank of America Corp DE’s holdings in Principal Financial Group were worth $794,721,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DV Equities LLC purchased a new position in shares of Principal Financial Group in the fourth quarter valued at approximately $25,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Principal Financial Group during the fourth quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Principal Financial Group during the fourth quarter worth approximately $26,000. Valley Wealth Managers Inc. acquired a new position in Principal Financial Group in the 1st quarter valued at $27,000. Finally, MBM Wealth Consultants LLC acquired a new position in Principal Financial Group in the 1st quarter valued at $28,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PFG. Bank of America lifted their target price on shares of Principal Financial Group from $94.00 to $104.00 and gave the stock an “underperform” rating in a research note on Tuesday. Piper Sandler increased their target price on shares of Principal Financial Group from $113.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Morgan Stanley raised their price target on shares of Principal Financial Group from $107.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Atlantic Securities set a $94.00 price target on shares of Principal Financial Group in a research report on Wednesday, July 15th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Principal Financial Group in a research note on Wednesday. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Principal Financial Group presently has a consensus rating of “Hold” and a consensus price target of $105.75.

Read Our Latest Analysis on Principal Financial Group

Principal Financial Group Stock Down 0.2%

Shares of NASDAQ:PFG opened at $113.73 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.28 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $109.18 and a two-hundred day moving average of $99.15. The stock has a market cap of $24.35 billion, a P/E ratio of 16.15, a PEG ratio of 1.04 and a beta of 0.88. Principal Financial Group, Inc. has a 52-week low of $75.00 and a 52-week high of $114.95.

Principal Financial Group (NASDAQ:PFG – Get Free Report) last issued its earnings results on Monday, July 27th. The company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.17. Principal Financial Group had a return on equity of 16.49% and a net margin of 9.93%.The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same period last year, the company earned $2.16 EPS. On average, research analysts expect that Principal Financial Group, Inc. will post 9.51 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 3rd will be given a dividend of $0.84 per share. The ex-dividend date is Thursday, September 3rd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.82. This represents a $3.36 annualized dividend and a yield of 3.0%. Principal Financial Group’s dividend payout ratio (DPR) is 46.59%.

Insider Transactions at Principal Financial Group

In other Principal Financial Group news, insider Wee Yee Cheong sold 7,534 shares of Principal Financial Group stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $103.16, for a total transaction of $777,207.44. Following the transaction, the insider directly owned 66,443 shares of the company’s stock, valued at $6,854,259.88. The trade was a 10.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.13% of the company’s stock.

Principal Financial Group Company Profile

(Free Report)

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.