New York Life Investment Management LLC Has $2.73 Million Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

New York Life Investment Management LLC lowered its stake in Principal Financial Group, Inc. (NYSE:PFG) by 0.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 34,700 shares of the company’s stock after selling 178 shares during the period. New York Life Investment Management LLC’s holdings in Principal Financial Group were worth $2,730,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PFG. RIA Advisory Group LLC grew its position in shares of Principal Financial Group by 35,473.1% in the fourth quarter. RIA Advisory Group LLC now owns 1,080,000 shares of the company’s stock valued at $84,964,000 after purchasing an additional 1,076,964 shares during the last quarter. Wellington Management Group LLP grew its holdings 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. Hsbc Holdings PLC increased 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 buying an additional 456,455 shares during the period. Trust Point Inc. bought a new position in Principal Financial Group during the 4th quarter worth $30,290,000. Finally, QRG Capital Management Inc. acquired a new stake in shares of Principal Financial Group during the third quarter worth $22,726,000. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $81.21 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.29 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 stock has a market capitalization of $19.03 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 0.92 and a beta of 1.24. The stock has a fifty day moving average of $81.79 and a 200-day moving average of $77.88.

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

Principal Financial Group declared that its Board of Directors has approved a share buyback plan on Monday, February 12th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to purchase 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 shares are undervalued.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were given a $0.69 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.76 dividend on an annualized basis and a yield of 3.40%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.67. Principal Financial Group’s dividend payout ratio (DPR) is currently 52.67%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PFG shares. Morgan Stanley raised their price target on shares of Principal Financial Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Wells Fargo & Company lowered their target price 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 boosted their price target on 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 raised their price objective on Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Finally, Royal Bank of Canada upped their target price on 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 nine have issued a hold rating to the company’s stock. According to MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and an average target price of $80.30.

About Principal Financial Group

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.