Principal Financial Group, Inc. $PFG Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lifted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 902.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 36,643 shares of the company’s stock after buying an additional 32,987 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Principal Financial Group were worth $2,911,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of PFG. Goldman Sachs Group Inc. raised its position in shares of Principal Financial Group by 114.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,613,143 shares of the company’s stock worth $220,471,000 after purchasing an additional 1,393,008 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Principal Financial Group by 1.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,468,728 shares of the company’s stock valued at $123,917,000 after purchasing an additional 20,221 shares during the period. Royal Bank of Canada boosted its holdings in Principal Financial Group by 1.7% in the 1st quarter. Royal Bank of Canada now owns 1,080,097 shares of the company’s stock worth $91,128,000 after acquiring an additional 17,969 shares during the period. AustralianSuper Pty Ltd grew its stake in shares of Principal Financial Group by 11.2% during the second quarter. AustralianSuper Pty Ltd now owns 993,643 shares of the company’s stock valued at $78,925,000 after acquiring an additional 100,397 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Principal Financial Group by 443.6% in the first quarter. AQR Capital Management LLC now owns 645,431 shares of the company’s stock valued at $53,597,000 after acquiring an additional 526,701 shares in the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Principal Financial Group

In related news, EVP Wee Yee Cheong sold 1,887 shares of Principal Financial Group stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $85.04, for a total transaction of $160,470.48. Following the completion of the transaction, the executive vice president owned 81,421 shares in the company, valued at approximately $6,924,041.84. This trade represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PFG has been the topic of a number of research reports. Wells Fargo & Company increased their price target on Principal Financial Group from $73.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 29th. UBS Group boosted their price objective on Principal Financial Group from $85.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, July 29th. Barclays raised their price target on shares of Principal Financial Group from $80.00 to $83.00 and gave the stock an “underweight” rating in a report on Wednesday, October 8th. Evercore ISI increased their price target on shares of Principal Financial Group from $92.00 to $94.00 and gave the stock an “in-line” rating in a research note on Thursday, October 9th. Finally, Piper Sandler set a $94.00 target price on shares of Principal Financial Group and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $88.90.

Principal Financial Group Price Performance

Shares of PFG stock opened at $82.19 on Wednesday. The stock has a 50-day moving average price of $81.90 and a 200 day moving average price of $79.86. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $90.31. The firm has a market cap of $18.31 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 0.76 and a beta of 1.02. 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 (NYSE:PFG) last announced its quarterly earnings results on Monday, October 27th. The company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.12. 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 firm posted $2.05 earnings per share. Research analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Wednesday, December 3rd will be given a dividend of $0.79 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $3.16 annualized dividend and a dividend yield of 3.8%. Principal Financial Group’s payout ratio is presently 46.00%.

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.