Resolute Wealth Strategies LLC Sells 1,027 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Resolute Wealth Strategies LLC lowered its position in Principal Financial Group, Inc. (NYSE:PFG) by 18.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,448 shares of the company’s stock after selling 1,027 shares during the period. Resolute Wealth Strategies LLC’s holdings in Principal Financial Group were worth $350,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Principal Financial Group by 15.0% during the third quarter. Wellington Management Group LLP now owns 4,423,975 shares of the company’s stock worth $318,836,000 after acquiring an additional 575,646 shares in the last quarter. Northern Trust Corp boosted its position in shares of Principal Financial Group by 0.4% in the 3rd quarter. Northern Trust Corp now owns 3,920,915 shares of the company’s stock worth $282,580,000 after purchasing an additional 16,052 shares in the last quarter. Invesco Ltd. boosted its position in shares of Principal Financial Group by 12.6% in the 3rd quarter. Invesco Ltd. now owns 2,231,757 shares of the company’s stock worth $160,843,000 after purchasing an additional 249,127 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Principal Financial Group by 60.5% in the 3rd quarter. Hsbc Holdings PLC now owns 1,210,985 shares of the company’s stock worth $87,305,000 after buying an additional 456,455 shares during the last quarter. Finally, RIA Advisory Group LLC increased its position in Principal Financial Group by 35,473.1% during the 4th quarter. RIA Advisory Group LLC now owns 1,080,000 shares of the company’s stock valued at $84,964,000 after buying an additional 1,076,964 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

PFG has been the topic of a number of recent research reports. Evercore ISI increased their target price on Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. 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 note on Wednesday, February 14th. Wells Fargo & Company dropped their target price on shares of Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday, April 29th. Piper Sandler raised their price target 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. Finally, Keefe, Bruyette & Woods upped their price objective on Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $80.30.

Principal Financial Group Stock Performance

Shares of NYSE:PFG traded up $0.73 during trading on Friday, hitting $81.21. The company’s stock had a trading volume of 784,860 shares, compared to its average volume of 983,162. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.29 and a quick ratio of 0.30. The firm has a market cap of $19.03 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 0.92 and a beta of 1.24. The company has a 50-day moving average of $81.79 and a 200-day moving average of $77.79. Principal Financial Group, Inc. has a 12 month low of $65.17 and a 12 month high of $86.79.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.09). Principal Financial Group had a return on equity of 15.06% and a net margin of 8.70%. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the previous year, the business posted $1.48 earnings per share. On average, sell-side analysts expect that Principal Financial Group, Inc. will post 7.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Monday, March 11th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.67. Principal Financial Group’s payout ratio is currently 52.67%.

Principal Financial Group declared that its board has authorized a share buyback plan on Monday, February 12th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 7.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.