Belpointe Asset Management LLC Makes New $246,000 Investment in Principal Financial Group, Inc. (NYSE:PFG)

Belpointe Asset Management LLC acquired a new position in shares of Principal Financial Group, Inc. (NYSE:PFGFree Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,123 shares of the company’s stock, valued at approximately $246,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PFG. Spire Wealth Management lifted its holdings in shares of Principal Financial Group by 152.0% during the 4th quarter. Spire Wealth Management now owns 373 shares of the company’s stock worth $29,000 after acquiring an additional 225 shares during the period. EdgeRock Capital LLC bought a new position in Principal Financial Group during the 4th quarter valued at about $31,000. Fortis Group Advisors LLC bought a new position in Principal Financial Group during the 3rd quarter valued at about $33,000. PrairieView Partners LLC bought a new position in Principal Financial Group during the 4th quarter valued at about $39,000. Finally, Valley National Advisers Inc. lifted its holdings in Principal Financial Group by 81.7% during the 3rd quarter. Valley National Advisers Inc. now owns 556 shares of the company’s stock valued at $40,000 after purchasing an additional 250 shares during the last quarter. 75.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Morgan Stanley boosted 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 note on Monday, April 15th. Evercore ISI lifted their price target 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. Royal Bank of Canada lifted their price target on shares of Principal Financial Group from $75.00 to $83.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 14th. Finally, Wells Fargo & Company lowered their price target on shares of Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $80.30.

Get Our Latest Stock Report on Principal Financial Group

Principal Financial Group Stock Down 0.1 %

Shares of NYSE PFG opened at $79.27 on Friday. The stock has a market cap of $18.58 billion, a P/E ratio of 11.78, a P/E/G ratio of 0.85 and a beta of 1.23. The firm has a 50 day moving average price of $81.88 and a 200 day moving average price of $80.06. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.29 and a current ratio of 0.29. Principal Financial Group, Inc. has a 52-week low of $66.21 and a 52-week high of $86.79.

Principal Financial Group (NYSE:PFGGet Free Report) 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). The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.68 billion. Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. During the same quarter last year, the company earned $1.48 EPS. Analysts expect that Principal Financial Group, Inc. will post 7.5 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Monday, June 3rd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Monday, June 3rd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.69. Principal Financial Group’s dividend payout ratio is 54.20%.

Principal Financial Group declared that its board has authorized a stock buyback plan on Monday, February 12th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to buy up to 7.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Principal Financial Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Principal Financial Group (NYSE:PFG)

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