Tower Research Capital LLC TRC Buys 23,974 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Tower Research Capital LLC TRC lifted its holdings in Principal Financial Group, Inc. (NYSE:PFGFree Report) by 218.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,960 shares of the company’s stock after acquiring an additional 23,974 shares during the period. Tower Research Capital LLC TRC’s holdings in Principal Financial Group were worth $2,750,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Spire Wealth Management grew its stake in shares of Principal Financial Group by 152.0% in the fourth quarter. Spire Wealth Management now owns 373 shares of the company’s stock valued at $29,000 after acquiring an additional 225 shares in the last quarter. EdgeRock Capital LLC acquired a new position in shares of Principal Financial Group in the fourth quarter valued at about $31,000. Fortis Group Advisors LLC acquired a new position in shares of Principal Financial Group in the third quarter valued at about $33,000. PrairieView Partners LLC acquired a new position in shares of Principal Financial Group in the fourth quarter valued at about $39,000. Finally, Anchor Investment Management LLC acquired a new position in shares of Principal Financial Group in the fourth quarter valued at about $40,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Price Performance

Shares of PFG opened at $79.27 on Friday. Principal Financial Group, Inc. has a 12-month low of $66.21 and a 12-month high of $86.79. The business has a 50-day simple moving average of $81.88 and a two-hundred day simple moving average of $80.06. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.35. The stock has a market cap of $18.58 billion, a PE ratio of 15.13, a PEG ratio of 0.85 and a beta of 1.23.

Principal Financial Group (NYSE:PFGGet Free Report) last issued its earnings results on Thursday, April 25th. The company reported $1.65 earnings per share (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 firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period in the previous year, the company earned $1.48 EPS. Analysts anticipate that Principal Financial Group, Inc. will post 7.5 earnings per share for the current fiscal year.

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

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend 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 presently 54.20%.

Wall Street Analyst Weigh In

Several research firms recently commented on PFG. Royal Bank of Canada upped 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 research note on Wednesday, February 14th. Evercore ISI increased their price objective on shares of 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. Keefe, Bruyette & Woods increased their price objective on shares of Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Morgan Stanley increased their price objective 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. Finally, Wells Fargo & Company reduced their price objective 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. Two research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat.com, Principal Financial Group presently has a consensus rating of “Hold” and a consensus target price of $80.30.

Check Out Our Latest Report on Principal Financial Group

Principal Financial Group Company 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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