Geneos Wealth Management Inc. Sells 400 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Geneos Wealth Management Inc. cut its position in Principal Financial Group, Inc. (NYSE:PFG) by 30.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 903 shares of the company’s stock after selling 400 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Principal Financial Group were worth $71,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. GHP Investment Advisors Inc. increased its holdings in shares of Principal Financial Group by 143.0% during the third quarter. GHP Investment Advisors Inc. now owns 384 shares of the company’s stock valued at $27,000 after acquiring an additional 226 shares in the last quarter. ICA Group Wealth Management LLC increased its holdings in shares of Principal Financial Group by 100.0% during the first quarter. ICA Group Wealth Management LLC now owns 400 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Fortis Group Advisors LLC acquired a new position in shares of Principal Financial Group during the third quarter valued at about $33,000. Clear Street Markets LLC increased its holdings in shares of Principal Financial Group by 96.1% during the first quarter. Clear Street Markets LLC now owns 449 shares of the company’s stock valued at $33,000 after acquiring an additional 220 shares in the last quarter. Finally, PrairieView Partners LLC acquired a new position in shares of Principal Financial Group during the fourth quarter valued at about $39,000. 75.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PFG shares. Morgan Stanley upped 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 report on Monday. Keefe, Bruyette & Woods upped their target price 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. Evercore ISI upped their target price on 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. Piper Sandler upped their target price on 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, Wells Fargo & Company upped their target price on Principal Financial Group from $86.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $80.64.

Principal Financial Group Trading Down 0.9 %

Shares of NYSE:PFG opened at $78.25 on Wednesday. The business’s 50 day moving average price is $81.56 and its 200-day moving average price is $76.94. Principal Financial Group, Inc. has a 1 year low of $65.17 and a 1 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 market capitalization of $18.40 billion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 0.98 and a beta of 1.25.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Monday, February 12th. The company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.70 by $0.13. Principal Financial Group had a return on equity of 15.14% and a net margin of 4.56%. The firm had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the prior year, the company earned $1.70 EPS. On average, equities research analysts forecast that Principal Financial Group, Inc. will post 7.6 earnings per share for the current fiscal year.

Principal Financial Group announced that its Board of Directors has initiated a share repurchase program on Monday, February 12th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 7.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 12th were paid a $0.69 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.67. This represents a $2.76 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend was Monday, March 11th. Principal Financial Group’s dividend payout ratio is currently 112.65%.

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.