Mirae Asset Global Investments Co. Ltd. Has $3.42 Million Stock Position in Principal Financial Group, Inc. $PFG

Mirae Asset Global Investments Co. Ltd. boosted its position in Principal Financial Group, Inc. (NASDAQ:PFG) by 17.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 38,717 shares of the company’s stock after purchasing an additional 5,758 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Principal Financial Group were worth $3,415,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of PFG. Integrated Wealth Concepts LLC acquired a new stake in Principal Financial Group in the 1st quarter valued at about $244,000. NewEdge Advisors LLC lifted its stake in Principal Financial Group by 24.1% in the 1st quarter. NewEdge Advisors LLC now owns 7,503 shares of the company’s stock valued at $633,000 after purchasing an additional 1,455 shares during the last quarter. Empowered Funds LLC lifted its stake in Principal Financial Group by 11.9% in the 1st quarter. Empowered Funds LLC now owns 4,678 shares of the company’s stock valued at $395,000 after purchasing an additional 497 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Principal Financial Group by 96.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the company’s stock valued at $181,000 after purchasing an additional 1,117 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in Principal Financial Group by 9.1% in the 2nd quarter. Cerity Partners LLC now owns 37,957 shares of the company’s stock valued at $3,015,000 after purchasing an additional 3,175 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Trading Up 1.8%

Shares of PFG stock opened at $97.43 on Thursday. The firm has a 50 day moving average price of $91.40 and a two-hundred day moving average price of $88.53. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $21.11 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 0.87 and a beta of 0.87. Principal Financial Group, Inc. has a 12-month low of $71.54 and a 12-month high of $97.88.

Principal Financial Group (NASDAQ:PFG) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $2.20 earnings per share (EPS) for the quarter. The firm had revenue of $4.58 billion during the quarter. Principal Financial Group had a net margin of 7.58% and a return on equity of 16.09%. As a group, analysts predict that Principal Financial Group, Inc. will post 9.4 earnings per share for the current year.

Principal Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Wednesday, March 11th were given 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 (DPR) is 60.72%.

Insider Transactions at Principal Financial Group

In other Principal Financial Group news, CEO Deanna D. Strable-Soethout sold 7,340 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $95.00, for a total transaction of $697,300.00. Following the completion of the sale, the chief executive officer directly owned 136,828 shares in the company, valued at $12,998,660. This trade represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

PFG has been the subject of several recent analyst reports. 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. Bank of America cut their target price on shares of Principal Financial Group from $96.00 to $92.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Barclays reiterated an “underweight” rating on shares of Principal Financial Group in a research note on Tuesday. Wells Fargo & Company cut 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. Finally, UBS Group raised their target price on shares of Principal Financial Group from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average 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.