GAMMA Investing LLC Makes New $131,000 Investment in Principal Financial Group, Inc. (NYSE:PFG)

GAMMA Investing LLC purchased a new position in shares of Principal Financial Group, Inc. (NYSE:PFG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,658 shares of the company’s stock, valued at approximately $131,000.

Several other institutional investors also recently added to or reduced their stakes in PFG. Ellevest Inc. increased its holdings in shares of Principal Financial Group by 3.3% in the third 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 period. Merit Financial Group LLC increased its holdings in shares of Principal Financial Group by 2.3% in the third quarter. Merit Financial Group LLC now owns 6,947 shares of the company’s stock valued at $501,000 after purchasing an additional 153 shares during the period. Verdence Capital Advisors LLC increased its holdings in shares of Principal Financial Group by 1.3% in the fourth quarter. Verdence Capital Advisors LLC now owns 11,776 shares of the company’s stock valued at $926,000 after purchasing an additional 153 shares during the period. Quent Capital LLC increased its holdings in shares of Principal Financial Group by 15.5% in the fourth quarter. Quent Capital LLC now owns 1,185 shares of the company’s stock valued at $93,000 after purchasing an additional 159 shares during the period. Finally, Pinion Investment Advisors LLC increased its holdings in shares of Principal Financial Group by 1.9% in the third quarter. Pinion Investment Advisors LLC now owns 9,193 shares of the company’s stock valued at $663,000 after purchasing an additional 169 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PFG shares. Keefe, Bruyette & Woods boosted their target price 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. Evercore ISI boosted their target price on Principal Financial Group from $84.00 to $86.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Royal Bank of Canada lifted their price target on 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. Wells Fargo & Company lifted their price target on Principal Financial Group from $86.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley lifted their price target on Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $80.64.

Principal Financial Group Stock Down 2.4 %

PFG opened at $79.12 on Friday. The business’s fifty day moving average is $81.78 and its two-hundred day 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. The company has a market cap of $18.61 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 0.84 and a beta of 1.25. Principal Financial Group, Inc. has a one year low of $65.17 and a one year high of $86.79.

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

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

Principal Financial Group Increases Dividend

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

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.