Impact Partnership Wealth LLC Increases Holdings in Principal Financial Group, Inc. $PFG

Impact Partnership Wealth LLC lifted its holdings in Principal Financial Group, Inc. (NASDAQ:PFG) by 264.3% in the first quarter, HoldingsChannel.com reports. The fund owned 16,053 shares of the company’s stock after buying an additional 11,647 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Principal Financial Group were worth $1,447,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Aptus Capital Advisors LLC raised its stake in Principal Financial Group by 3.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 3,444 shares of the company’s stock valued at $286,000 after purchasing an additional 118 shares during the period. Blue Trust Inc. boosted its stake in Principal Financial Group by 14.8% in the 1st quarter. Blue Trust Inc. now owns 921 shares of the company’s stock worth $83,000 after purchasing an additional 119 shares during the period. Parallel Advisors LLC grew its holdings in Principal Financial Group by 7.6% during the 4th quarter. Parallel Advisors LLC now owns 1,686 shares of the company’s stock valued at $149,000 after buying an additional 119 shares in the last quarter. Fifth Third Bancorp grew its holdings in Principal Financial Group by 1.4% during the 4th quarter. Fifth Third Bancorp now owns 9,130 shares of the company’s stock valued at $805,000 after buying an additional 127 shares in the last quarter. Finally, Mutual Advisors LLC raised its position in shares of Principal Financial Group by 4.6% during the fourth quarter. Mutual Advisors LLC now owns 2,908 shares of the company’s stock valued at $257,000 after buying an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $107.78 on Wednesday. Principal Financial Group, Inc. has a 52-week low of $75.00 and a 52-week high of $112.45. The company has a market cap of $23.28 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.08 and a beta of 0.88. The firm’s fifty day moving average is $103.89 and its 200 day moving average is $95.66. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33.

Principal Financial Group (NASDAQ:PFG) last posted its earnings results on Wednesday, April 29th. The company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.06. The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $4.11 billion. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. During the same period in the previous year, the firm posted $1.81 EPS. Sell-side analysts forecast that Principal Financial Group, Inc. will post 9.37 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Monday, June 1st were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.28 annualized dividend and a dividend yield of 3.0%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.80. Principal Financial Group’s dividend payout ratio is presently 46.92%.

Insider Buying and Selling at Principal Financial Group

In other news, General Counsel George Djurasovic sold 2,571 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $100.83, for a total value of $259,233.93. Following the sale, the general counsel owned 21,906 shares of the company’s stock, valued at approximately $2,208,781.98. This represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Wee Yee Cheong sold 7,534 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $103.16, for a total transaction of $777,207.44. Following the completion of the sale, the insider owned 66,443 shares of the company’s stock, valued at $6,854,259.88. This trade represents a 10.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,317 shares of company stock worth $2,884,902 in the last 90 days. 1.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PFG shares. Piper Sandler boosted their target price on shares of Principal Financial Group from $113.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Morgan Stanley raised their target price on shares of Principal Financial Group from $95.00 to $107.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Weiss Ratings downgraded shares of Principal Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 1st. Barclays boosted their price target on shares of Principal Financial Group from $85.00 to $87.00 and gave the stock an “underweight” rating in a research note on Friday, April 24th. Finally, Bank of America reissued an “underperform” rating and set a $95.00 price objective (down from $98.00) on shares of Principal Financial Group in a report on Wednesday, June 24th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and an average price target of $100.90.

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.