Principal Financial Group, Inc. (NYSE:PFG) Stock Position Raised by RIA Advisory Group LLC

RIA Advisory Group LLC increased its stake in Principal Financial Group, Inc. (NYSE:PFG) by 35,473.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,080,000 shares of the company’s stock after purchasing an additional 1,076,964 shares during the quarter. Principal Financial Group accounts for 24.7% of RIA Advisory Group LLC’s portfolio, making the stock its largest position. RIA Advisory Group LLC’s holdings in Principal Financial Group were worth $84,964,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. boosted its stake in shares of Principal Financial Group by 143.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 384 shares of the company’s stock worth $27,000 after acquiring an additional 226 shares during the last quarter. ICA Group Wealth Management LLC raised its position in shares of Principal Financial Group by 100.0% during the 1st quarter. ICA Group Wealth Management LLC now owns 400 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the period. Fortis Group Advisors LLC bought a new stake in shares of Principal Financial Group during the 3rd quarter valued at $33,000. Clear Street Markets LLC raised its position in shares of Principal Financial Group by 96.1% during the 1st quarter. Clear Street Markets LLC now owns 449 shares of the company’s stock valued at $33,000 after purchasing an additional 220 shares during the period. Finally, PrairieView Partners LLC bought a new stake in shares of Principal Financial Group during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock traded up $1.48 during trading hours on Friday, reaching $80.44. The company’s stock had a trading volume of 962,161 shares, compared to its average volume of 1,139,642. Principal Financial Group, Inc. has a one year low of $65.17 and a one year high of $86.79. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a 50 day moving average price of $81.59 and a 200-day moving average price of $76.96. The stock has a market cap of $18.92 billion, a P/E ratio of 32.69, a P/E/G ratio of 0.96 and a beta of 1.25.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Monday, February 12th. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. Principal Financial Group had a net margin of 4.56% and a return on equity of 15.14%. The firm had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same period in the previous year, the company earned $1.70 EPS. On average, analysts predict that Principal Financial Group, Inc. will post 7.59 EPS for the current year.

Principal Financial Group declared that its board has approved a share repurchase program on Monday, February 12th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to purchase up to 7.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 12th were paid a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, March 11th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.67. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.43%. Principal Financial Group’s payout ratio is currently 112.65%.

Wall Street Analysts Forecast Growth

PFG has been the topic of several recent analyst reports. Morgan Stanley raised their price objective on shares of Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday. Piper Sandler raised their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Royal Bank of Canada raised their price objective on shares of Principal Financial Group from $75.00 to $83.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 14th. Evercore ISI raised their price objective on shares of Principal Financial Group from $84.00 to $86.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Finally, Wells Fargo & Company lifted their price target on shares of Principal Financial Group from $86.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Principal Financial Group presently has a consensus rating of “Hold” and a consensus target price of $80.64.

Principal Financial Group Company 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.