Russell Investments Group Ltd. Sells 79,897 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Russell Investments Group Ltd. cut its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 32.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 163,499 shares of the company’s stock after selling 79,897 shares during the quarter. Russell Investments Group Ltd.’s holdings in Principal Financial Group were worth $12,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Ellevest Inc. boosted its stake in shares of Principal Financial Group by 3.3% during the third quarter. Ellevest Inc. now owns 4,644 shares of the company’s stock valued at $335,000 after purchasing an additional 149 shares during the period. Merit Financial Group LLC boosted its position in Principal Financial Group by 2.3% during the 3rd quarter. Merit Financial Group LLC now owns 6,947 shares of the company’s stock valued at $501,000 after buying an additional 153 shares during the period. Verdence Capital Advisors LLC grew its holdings in Principal Financial Group by 1.3% in the 4th quarter. Verdence Capital Advisors LLC now owns 11,776 shares of the company’s stock worth $926,000 after acquiring an additional 153 shares during the last quarter. Quent Capital LLC increased its position in shares of Principal Financial Group by 15.5% in the fourth quarter. Quent Capital LLC now owns 1,185 shares of the company’s stock valued at $93,000 after acquiring an additional 159 shares during the period. Finally, Pinion Investment Advisors LLC raised its stake in shares of Principal Financial Group by 1.9% during the third quarter. Pinion Investment Advisors LLC now owns 9,193 shares of the company’s stock valued at $663,000 after acquiring an additional 169 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PFG has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price target on Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Wells Fargo & Company decreased their target price on Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, April 29th. Royal Bank of Canada lifted their price target on shares of Principal Financial Group from $75.00 to $83.00 and gave the company a “sector perform” rating in a report on Wednesday, February 14th. Piper Sandler raised their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Finally, Evercore ISI boosted their price target 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. Two investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat, Principal Financial Group presently has a consensus rating of “Hold” and a consensus price target of $80.30.

Principal Financial Group Trading Up 0.9 %

NYSE:PFG opened at $81.21 on Friday. Principal Financial Group, Inc. has a one year low of $65.17 and a one year high of $86.79. The company’s 50-day simple moving average is $81.79 and its 200 day simple moving average is $77.79. The firm has a market capitalization of $19.03 billion, a P/E ratio of 12.07, a PEG ratio of 0.92 and a beta of 1.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.29 and a quick ratio of 0.30.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the prior year, the firm earned $1.48 earnings per share. As a group, analysts forecast that Principal Financial Group, Inc. will post 7.5 EPS for the current fiscal year.

Principal Financial Group declared that its Board of Directors has initiated a share buyback program on Monday, February 12th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to buy up to 7.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Principal Financial Group Increases Dividend

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

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.