Signaturefd LLC Has $216,000 Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Signaturefd LLC lessened its stake in Principal Financial Group, Inc. (NYSE:PFG) by 8.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,747 shares of the company’s stock after selling 263 shares during the quarter. Signaturefd LLC’s holdings in Principal Financial Group were worth $216,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Verdence Capital Advisors LLC grew its position in Principal Financial Group by 1.3% in the fourth quarter. Verdence Capital Advisors LLC now owns 11,776 shares of the company’s stock worth $926,000 after acquiring an additional 153 shares in the last quarter. abrdn plc boosted its holdings in shares of Principal Financial Group by 71.0% during the 4th quarter. abrdn plc now owns 100,473 shares of the company’s stock worth $7,904,000 after buying an additional 41,728 shares during the period. RIA Advisory Group LLC boosted its holdings in shares of 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 worth $84,964,000 after buying an additional 1,076,964 shares during the period. Xponance Inc. boosted its holdings in shares of Principal Financial Group by 16.8% during the 4th quarter. Xponance Inc. now owns 36,960 shares of the company’s stock worth $2,908,000 after buying an additional 5,324 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Principal Financial Group by 100.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,082 shares of the company’s stock valued at $85,000 after purchasing an additional 541 shares during the period. 75.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

PFG has been the subject of a number of research reports. Piper Sandler increased their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Wells Fargo & Company increased their price objective on shares of Principal Financial Group from $86.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Royal Bank of Canada increased 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. Morgan Stanley increased their target price on shares of Principal Financial Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, Evercore ISI increased their target price on shares of Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $80.64.

Principal Financial Group Trading Down 2.4 %

PFG opened at $79.12 on Friday. The stock has a market capitalization of $18.61 billion, a PE ratio of 11.76, a PEG ratio of 0.84 and a beta of 1.25. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 1-year low of $65.17 and a 1-year high of $86.79. The firm has a 50-day moving average price of $81.78 and a two-hundred day moving average price of $77.50.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, April 25th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.09). The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.68 billion. Principal Financial Group had a net margin of 8.70% and a return on equity of 15.25%. During the same period last year, the business posted $1.48 EPS. As a group, equities analysts anticipate that Principal Financial Group, Inc. will post 7.58 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 12th were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.49%. 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 dividend payout ratio (DPR) is 52.67%.

Principal Financial Group declared that its Board of Directors has initiated a stock repurchase plan on Monday, February 12th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 7.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Principal Financial Group 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.