First Pacific Financial Boosts Stake in Principal Financial Group, Inc. (NYSE:PFG)

First Pacific Financial increased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 91.2% in the 4th quarter, Holdings Channel reports. The firm owned 564 shares of the company’s stock after purchasing an additional 269 shares during the period. First Pacific Financial’s holdings in Principal Financial Group were worth $44,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Ellevest Inc. increased its holdings in Principal Financial Group by 3.3% in the 3rd quarter. Ellevest Inc. now owns 4,644 shares of the company’s stock valued at $335,000 after purchasing an additional 149 shares during the last quarter. Ronald Blue Trust Inc. increased its holdings in Principal Financial Group by 26.6% in the 3rd quarter. Ronald Blue Trust Inc. now owns 713 shares of the company’s stock valued at $54,000 after purchasing an additional 150 shares during the last quarter. Centennial Wealth Advisory LLC grew its stake in shares of Principal Financial Group by 3.3% in the third quarter. Centennial Wealth Advisory LLC now owns 4,748 shares of the company’s stock worth $342,000 after acquiring an additional 153 shares in the last quarter. Merit Financial Group LLC grew its stake in shares of Principal Financial Group by 2.3% during the third quarter. Merit Financial Group LLC now owns 6,947 shares of the company’s stock worth $501,000 after purchasing an additional 153 shares in the last quarter. Finally, IHT Wealth Management LLC grew its stake in shares of Principal Financial Group by 6.1% during the second quarter. IHT Wealth Management LLC now owns 2,886 shares of the company’s stock worth $219,000 after purchasing an additional 167 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PFG shares. Morgan Stanley upped their target price on shares of Principal Financial Group from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Tuesday, February 13th. Evercore ISI raised shares of Principal Financial Group from an “underperform” rating to an “inline” rating and increased their price target for the stock from $82.00 to $83.00 in a research note on Thursday, January 4th. Royal Bank of Canada raised their target price 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. Finally, Keefe, Bruyette & Woods raised their target price on shares of Principal Financial Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $76.18.

Principal Financial Group Trading Up 1.9 %

Principal Financial Group stock opened at $86.07 on Thursday. The firm’s 50-day moving average is $80.22 and its 200-day moving average is $76.06. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.30. Principal Financial Group, Inc. has a 1 year low of $65.17 and a 1 year high of $86.08. The company has a market cap of $20.30 billion, a P/E ratio of 12.88, a PEG ratio of 1.05 and a beta of 1.24.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Monday, February 12th. The company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $3.53 billion. Principal Financial Group had a net margin of 4.56% and a return on equity of 15.14%. During the same period last year, the firm posted $1.70 EPS. On average, equities analysts expect that Principal Financial Group, Inc. will post 7.6 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Tuesday, March 12th will be given a $0.69 dividend. The ex-dividend date of this dividend is Monday, March 11th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.67. This represents a $2.76 annualized dividend and a yield of 3.21%. Principal Financial Group’s dividend payout ratio (DPR) is currently 112.65%.

Principal Financial Group declared that its board has authorized a stock repurchase program on Monday, February 12th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 7.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

About Principal Financial Group

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.