S&CO Inc. Takes $210,000 Position in Principal Financial Group, Inc. (NYSE:PFG)

S&CO Inc. bought a new position in Principal Financial Group, Inc. (NYSE:PFG) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,500 shares of the company’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in Principal Financial Group by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company’s stock worth $422,074,000 after purchasing an additional 52,410 shares during the period. Victory Capital Management Inc. lifted its position in Principal Financial Group by 802.2% in the first quarter. Victory Capital Management Inc. now owns 3,707,534 shares of the company’s stock worth $312,805,000 after purchasing an additional 3,296,608 shares during the period. Northern Trust Corp lifted its position in Principal Financial Group by 9.8% in the fourth quarter. Northern Trust Corp now owns 3,662,918 shares of the company’s stock worth $283,546,000 after purchasing an additional 326,604 shares during the period. Norges Bank bought a new position in Principal Financial Group in the fourth quarter worth $217,021,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Principal Financial Group by 12.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,246 shares of the company’s stock worth $145,318,000 after purchasing an additional 209,885 shares during the period. 75.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Piper Sandler raised their target price on Principal Financial Group from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Thursday, July 3rd. JPMorgan Chase & Co. lifted their price objective on Principal Financial Group from $92.00 to $101.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Morgan Stanley restated an “underweight” rating and issued a $75.00 target price (up from $71.00) on shares of Principal Financial Group in a research note on Monday, July 14th. Wells Fargo & Company upped their price target on shares of Principal Financial Group from $69.00 to $73.00 and gave the stock an “underweight” rating in a research report on Thursday, July 10th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Principal Financial Group from $87.00 to $90.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Principal Financial Group presently has an average rating of “Hold” and a consensus target price of $86.30.

Principal Financial Group Price Performance

Shares of PFG stock opened at $80.39 on Tuesday. The stock has a 50-day moving average price of $78.62 and a 200 day moving average price of $79.96. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The firm has a market cap of $18.02 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 0.76 and a beta of 0.99. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.97.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Monday, July 28th. The company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.19. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same period last year, the business earned $1.63 earnings per share. Research analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.88%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.76. Principal Financial Group’s dividend payout ratio (DPR) is presently 65.10%.

Principal Financial Group Profile

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.