Nissay Asset Management Corp Japan ADV Lowers Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Nissay Asset Management Corp Japan ADV decreased its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 0.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 28,000 shares of the company’s stock after selling 124 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Principal Financial Group were worth $2,176,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Curio Wealth LLC acquired a new position in shares of Principal Financial Group in the 4th quarter valued at about $29,000. BankPlus Trust Department acquired a new position in shares of Principal Financial Group in the 4th quarter valued at about $33,000. Navigoe LLC acquired a new position in shares of Principal Financial Group in the 4th quarter valued at about $37,000. Covestor Ltd lifted its stake in shares of Principal Financial Group by 144.3% in the 4th quarter. Covestor Ltd now owns 540 shares of the company’s stock valued at $42,000 after purchasing an additional 319 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of Principal Financial Group in the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Price Performance

PFG stock opened at $81.55 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $91.98. The stock’s 50 day moving average is $78.08 and its two-hundred day moving average is $81.09. The company has a market capitalization of $18.28 billion, a PE ratio of 12.21, a P/E/G ratio of 0.76 and a beta of 1.01.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same period in the previous year, the company earned $1.65 EPS. Analysts predict that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, June 2nd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a yield of 3.73%. Principal Financial Group’s payout ratio is currently 65.10%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PFG. Piper Sandler lifted their price objective on Principal Financial Group from $93.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their price target on Principal Financial Group from $86.00 to $87.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 7th. UBS Group reduced their price target on Principal Financial Group from $93.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Wells Fargo & Company boosted their price target on Principal Financial Group from $68.00 to $69.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 29th. Finally, BMO Capital Markets began coverage on Principal Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $83.54.

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.