Goldman Sachs Group Inc. Has $169.75 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

Goldman Sachs Group Inc. boosted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 10.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,157,712 shares of the company’s stock after buying an additional 200,056 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Principal Financial Group were worth $169,747,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in Principal Financial Group by 15.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,423,975 shares of the company’s stock valued at $318,836,000 after buying an additional 575,646 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Principal Financial Group by 0.4% in the third quarter. Northern Trust Corp now owns 3,920,915 shares of the company’s stock valued at $282,580,000 after purchasing an additional 16,052 shares during the last quarter. Norges Bank purchased a new position in Principal Financial Group during the fourth quarter worth about $253,990,000. First Trust Advisors LP boosted its stake in shares of Principal Financial Group by 5.5% in the 4th quarter. First Trust Advisors LP now owns 2,783,578 shares of the company’s stock worth $218,984,000 after buying an additional 144,262 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Principal Financial Group by 12.6% in the 3rd quarter. Invesco Ltd. now owns 2,231,757 shares of the company’s stock valued at $160,843,000 after purchasing an additional 249,127 shares during the period. 75.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PFG has been the topic of a number of research reports. Wells Fargo & Company lowered their price target on shares of Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Keefe, Bruyette & Woods upped their price target on shares of Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Evercore ISI lifted their price target on 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. Piper Sandler increased their price objective on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, Morgan Stanley lifted their target price on Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $80.30.

Principal Financial Group Stock Performance

NYSE:PFG traded down $0.71 during mid-day trading on Friday, reaching $76.66. The company’s stock had a trading volume of 918,276 shares, compared to its average volume of 884,376. The stock has a market cap of $17.97 billion, a P/E ratio of 14.63, a PEG ratio of 0.82 and a beta of 1.23. Principal Financial Group, Inc. has a 12-month low of $66.21 and a 12-month high of $86.79. The firm’s fifty day moving average price is $81.14 and its two-hundred day moving average price is $80.25. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.09). Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the previous year, the business earned $1.48 earnings per share. On average, equities analysts forecast that Principal Financial Group, Inc. will post 7.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Monday, June 3rd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Monday, June 3rd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.69. Principal Financial Group’s dividend payout ratio is presently 54.20%.

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.