Savant Capital LLC Has $1.02 Million Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Savant Capital LLC increased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,964 shares of the company’s stock after buying an additional 346 shares during the period. Savant Capital LLC’s holdings in Principal Financial Group were worth $1,020,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC bought a new stake in shares of Principal Financial Group during the third quarter worth $33,000. PrairieView Partners LLC bought a new stake in Principal Financial Group during the 4th quarter worth about $39,000. Valley National Advisers Inc. lifted its position in Principal Financial Group by 81.7% during the 3rd quarter. Valley National Advisers Inc. now owns 556 shares of the company’s stock valued at $40,000 after purchasing an additional 250 shares during the period. Anchor Investment Management LLC bought a new position in shares of Principal Financial Group in the 4th quarter valued at about $40,000. Finally, Authentikos Wealth Advisory LLC acquired a new stake in shares of Principal Financial Group during the 3rd quarter worth approximately $41,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $81.21 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a 52 week low of $65.17 and a 52 week high of $86.79. The company’s 50 day moving average price is $81.77 and its two-hundred day moving average price is $77.72. The company has a market capitalization of $19.03 billion, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 0.91 and a beta of 1.24.

Principal Financial Group (NYSE:PFG) last issued 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). The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the company earned $1.48 EPS. On average, analysts expect that Principal Financial Group, Inc. will post 7.5 earnings per share for the current fiscal year.

Principal Financial Group announced that its board has approved a stock buyback plan on Monday, February 12th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to buy up to 7.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 12th were given a dividend of $0.69 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.67. This represents a $2.76 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Monday, March 11th. Principal Financial Group’s dividend payout ratio is currently 52.67%.

Analysts Set New Price Targets

PFG has been the topic of a number of recent research reports. Evercore ISI raised 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 note on Thursday, April 11th. Keefe, Bruyette & Woods raised their price target on Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Piper Sandler upped their price objective on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Royal Bank of Canada raised their target price on Principal Financial Group from $75.00 to $83.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 14th. Finally, Morgan Stanley upped 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 analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $80.30.

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.