Kentucky Retirement Systems lifted its holdings in Principal Financial Group, Inc. (NASDAQ:PFG – Free Report) by 62.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,602 shares of the company’s stock after purchasing an additional 8,659 shares during the period. Kentucky Retirement Systems’ holdings in Principal Financial Group were worth $2,037,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new position in shares of Principal Financial Group during the 1st quarter worth approximately $244,000. NewEdge Advisors LLC grew its stake in Principal Financial Group by 24.1% in the 1st quarter. NewEdge Advisors LLC now owns 7,503 shares of the company’s stock valued at $633,000 after acquiring an additional 1,455 shares during the period. Empowered Funds LLC grew its stake in Principal Financial Group by 11.9% in the 1st quarter. Empowered Funds LLC now owns 4,678 shares of the company’s stock valued at $395,000 after acquiring an additional 497 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Principal Financial Group by 96.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the company’s stock worth $181,000 after acquiring an additional 1,117 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in Principal Financial Group by 9.1% in the 2nd quarter. Cerity Partners LLC now owns 37,957 shares of the company’s stock worth $3,015,000 after acquiring an additional 3,175 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.
Principal Financial Group Stock Up 0.7%
NASDAQ PFG opened at $113.95 on Friday. The business has a fifty day moving average price of $108.98 and a 200 day moving average price of $99.05. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.27 and a current ratio of 0.24. The company has a market cap of $24.61 billion, a P/E ratio of 16.19, a P/E/G ratio of 1.03 and a beta of 0.88. Principal Financial Group, Inc. has a one year low of $75.00 and a one year high of $114.95.
Principal Financial Group Increases Dividend
The firm also recently declared 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 a boost from Principal Financial Group’s previous quarterly dividend of $0.82. This represents a $3.36 dividend on an annualized basis and a yield of 2.9%. Principal Financial Group’s dividend payout ratio (DPR) is presently 46.92%.
Insiders Place Their Bets
In related news, insider Wee Yee Cheong sold 7,534 shares of the company’s 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 completion of the sale, the insider owned 66,443 shares of the company’s stock, valued at approximately $6,854,259.88. This represents a 10.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.13% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have issued reports on the stock. Evercore set a $108.00 price objective on shares of Principal Financial Group in a report on Monday, April 27th. JPMorgan Chase & Co. boosted their target price on shares of Principal Financial Group from $101.00 to $106.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. UBS Group upped their price target on shares of Principal Financial Group from $92.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Wells Fargo & Company decreased their price target on shares of Principal Financial Group from $114.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 22nd. Finally, Piper Sandler lifted their price objective on Principal Financial Group from $113.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $105.75.
Get Our Latest Stock Analysis on Principal Financial Group
Principal Financial Group Profile
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.
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