AMF Tjanstepension AB Has $26.63 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

AMF Tjanstepension AB increased its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 282.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 308,308 shares of the company’s stock after acquiring an additional 227,608 shares during the period. AMF Tjanstepension AB owned about 0.13% of Principal Financial Group worth $26,633,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Principal Financial Group during the 3rd quarter worth $577,000. Mariner LLC boosted its stake in shares of Principal Financial Group by 4.9% in the 3rd quarter. Mariner LLC now owns 24,898 shares of the company’s stock valued at $1,794,000 after purchasing an additional 1,156 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Principal Financial Group by 17.1% in the 3rd quarter. Federated Hermes Inc. now owns 20,456 shares of the company’s stock valued at $1,474,000 after purchasing an additional 2,986 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in Principal Financial Group by 10.8% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,079 shares of the company’s stock worth $510,000 after purchasing an additional 690 shares in the last quarter. Finally, Natixis Advisors L.P. increased its holdings in shares of Principal Financial Group by 2.9% during the third quarter. Natixis Advisors L.P. now owns 67,917 shares of the company’s stock worth $4,895,000 after buying an additional 1,887 shares in the last quarter. 75.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Evercore ISI raised their price target on shares of Principal Financial Group from $84.00 to $86.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Jefferies Financial Group upped their price objective on shares of Principal Financial Group from $74.00 to $78.00 and gave the company a “hold” rating in a report on Friday. Keefe, Bruyette & Woods boosted their price objective on Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Wells Fargo & Company lowered their target price on Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Monday, April 29th. Finally, Piper Sandler lifted their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Two research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat.com, Principal Financial Group has a consensus rating of “Hold” and an average target price of $81.50.

Principal Financial Group Stock Down 1.3 %

Shares of PFG traded down $1.01 during trading hours on Friday, reaching $78.45. 2,666,610 shares of the stock traded hands, compared to its average volume of 1,088,522. Principal Financial Group, Inc. has a 52 week low of $66.21 and a 52 week high of $86.79. The company has a market cap of $18.39 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 0.86 and a beta of 1.23. The stock has a fifty day simple moving average of $80.93 and a 200 day simple moving average of $80.53. 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 announced its earnings results on Thursday, April 25th. The company reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Principal Financial Group had a return on equity of 15.06% and a net margin of 8.70%. During the same quarter in the previous year, the firm earned $1.48 EPS. On average, equities analysts forecast that Principal Financial Group, Inc. will post 7.5 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Monday, June 3rd were issued a $0.71 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.69. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend was Monday, June 3rd. Principal Financial Group’s payout ratio is 54.20%.

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.