Tokio Marine Asset Management Co. Ltd. Increases Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 6.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,329 shares of the company’s stock after purchasing an additional 392 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Principal Financial Group were worth $498,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in Principal Financial Group by 15.0% during the 3rd quarter. Wellington Management Group LLP now owns 4,423,975 shares of the company’s stock worth $318,836,000 after purchasing an additional 575,646 shares during the period. Northern Trust Corp boosted its position in Principal Financial Group by 0.4% during the 3rd quarter. Northern Trust Corp now owns 3,920,915 shares of the company’s stock worth $282,580,000 after purchasing an additional 16,052 shares during the period. Invesco Ltd. boosted its position in Principal Financial Group by 12.6% during the 3rd quarter. Invesco Ltd. now owns 2,231,757 shares of the company’s stock worth $160,843,000 after purchasing an additional 249,127 shares during the period. Hsbc Holdings PLC boosted its position in Principal Financial Group by 60.5% during the 3rd quarter. Hsbc Holdings PLC now owns 1,210,985 shares of the company’s stock worth $87,305,000 after purchasing an additional 456,455 shares during the period. Finally, RIA Advisory Group LLC boosted its position in Principal Financial Group by 35,473.1% during the 4th quarter. RIA Advisory Group LLC now owns 1,080,000 shares of the company’s stock worth $84,964,000 after purchasing an additional 1,076,964 shares during the period. 75.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PFG shares. Piper Sandler upped their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Evercore ISI upped their price objective on shares of Principal Financial Group from $84.00 to $86.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Wells Fargo & Company upped their price objective on shares of Principal Financial Group from $86.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Morgan Stanley upped their price objective on shares of Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, Royal Bank of Canada upped their price objective on shares of Principal Financial Group from $75.00 to $83.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to data from MarketBeat, Principal Financial Group presently has an average rating of “Hold” and a consensus target price of $80.64.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock opened at $79.12 on Friday. The firm has a market cap of $18.61 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 0.84 and a beta of 1.25. The firm’s 50-day simple moving average is $81.78 and its 200-day simple moving average is $77.50. 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 $86.79.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, April 25th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.68 billion. Principal Financial Group had a net margin of 8.70% and a return on equity of 15.25%. During the same quarter last year, the company posted $1.48 EPS. Equities analysts forecast that Principal Financial Group, Inc. will post 7.58 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 12th were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date was Monday, March 11th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.67. Principal Financial Group’s dividend payout ratio is 52.67%.

Principal Financial Group announced that its board has authorized a stock repurchase program on Monday, February 12th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to buy up to 7.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Principal Financial Group Company 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.