AE Wealth Management LLC Purchases 7,946 Shares of Principal Financial Group, Inc. $PFG

AE Wealth Management LLC increased its stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 178,641 shares of the company’s stock after acquiring an additional 7,946 shares during the quarter. AE Wealth Management LLC owned approximately 0.08% of Principal Financial Group worth $15,758,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PFG. Aptus Capital Advisors LLC increased its holdings in Principal Financial Group by 3.5% during the third quarter. Aptus Capital Advisors LLC now owns 3,444 shares of the company’s stock worth $286,000 after buying an additional 118 shares during the last quarter. Hazlett Burt & Watson Inc. increased its holdings in Principal Financial Group by 22.3% during the third quarter. Hazlett Burt & Watson Inc. now owns 713 shares of the company’s stock worth $59,000 after buying an additional 130 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in Principal Financial Group by 1.0% during the third quarter. Kestra Private Wealth Services LLC now owns 13,800 shares of the company’s stock worth $1,144,000 after buying an additional 137 shares during the last quarter. Clearstead Advisors LLC increased its holdings in Principal Financial Group by 18.3% during the third quarter. Clearstead Advisors LLC now owns 907 shares of the company’s stock worth $75,000 after buying an additional 140 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Principal Financial Group by 6.6% during the third quarter. EverSource Wealth Advisors LLC now owns 2,429 shares of the company’s stock worth $201,000 after buying an additional 151 shares during the last quarter. 75.08% of the stock is owned by institutional investors.

Insider Transactions at Principal Financial Group

In other Principal Financial Group news, CEO Deanna D. Strable-Soethout sold 9,300 shares of the company’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $95.12, for a total transaction of $884,616.00. Following the transaction, the chief executive officer owned 144,168 shares in the company, valued at approximately $13,713,260.16. This represents a 6.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 24,665 shares of company stock worth $2,324,710. 1.08% of the stock is currently owned by corporate insiders.

Principal Financial Group Stock Up 2.3%

Shares of Principal Financial Group stock opened at $96.17 on Friday. The company’s fifty day simple moving average is $91.26 and its two-hundred day simple moving average is $88.23. The company has a market cap of $20.84 billion, a P/E ratio of 18.25, a PEG ratio of 0.86 and a beta of 0.87. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33. Principal Financial Group, Inc. has a 12-month low of $69.80 and a 12-month high of $97.88.

Principal Financial Group (NASDAQ:PFG) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $2.20 earnings per share (EPS) for the quarter. The company had revenue of $4.58 billion for the quarter. Principal Financial Group had a net margin of 7.58% and a return on equity of 16.09%.

Principal Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Wednesday, March 11th were paid a dividend of $0.80 per share. The ex-dividend date was Wednesday, March 11th. This represents a $3.20 annualized dividend and a yield of 3.3%. Principal Financial Group’s dividend payout ratio is currently 60.72%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $103.00 target price on shares of Principal Financial Group in a research note on Monday, January 5th. Wells Fargo & Company reduced their target price on shares of Principal Financial Group from $91.00 to $87.00 and set an “equal weight” rating for the company in a research note on Friday, April 10th. Weiss Ratings upgraded shares of Principal Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Piper Sandler lifted their target price on shares of Principal Financial Group from $94.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 23rd. Finally, UBS Group lifted their target price on shares of Principal Financial Group from $92.00 to $94.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $93.44.

Principal Financial Group Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.