Amalgamated Bank Sells 8,726 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Amalgamated Bank lowered its stake in Principal Financial Group, Inc. (NYSE:PFG) by 13.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 57,617 shares of the company’s stock after selling 8,726 shares during the quarter. Amalgamated Bank’s holdings in Principal Financial Group were worth $4,533,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fortis Group Advisors LLC bought a new stake in Principal Financial Group in the third quarter valued at $33,000. PrairieView Partners LLC bought a new stake in Principal Financial Group in the 4th quarter valued at about $39,000. Valley National Advisers Inc. increased its position in Principal Financial Group by 81.7% in the 3rd quarter. Valley National Advisers Inc. now owns 556 shares of the company’s stock valued at $40,000 after buying an additional 250 shares in the last quarter. Anchor Investment Management LLC bought a new position in Principal Financial Group in the fourth quarter worth approximately $40,000. Finally, Authentikos Wealth Advisory LLC bought a new position in Principal Financial Group in the third quarter worth approximately $41,000. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Stock Performance

NYSE:PFG opened at $82.46 on Wednesday. Principal Financial Group, Inc. has a 1 year low of $65.17 and a 1 year high of $86.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.29 and a quick ratio of 0.29. The business has a fifty day simple moving average of $81.88 and a two-hundred day simple moving average of $78.08. The company has a market capitalization of $19.33 billion, a P/E ratio of 15.74, a P/E/G ratio of 0.92 and a beta of 1.24.

Principal Financial Group (NYSE:PFG) last issued 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 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 quarter in the prior year, the business earned $1.48 EPS. On average, analysts expect that Principal Financial Group, Inc. will post 7.5 earnings per share for the current year.

Principal Financial Group announced that its Board of Directors has initiated a share repurchase program on Monday, February 12th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 7.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Monday, June 3rd will be issued a $0.71 dividend. This is a positive change 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 3.44%. The ex-dividend date of this dividend is Monday, June 3rd. Principal Financial Group’s dividend payout ratio (DPR) is presently 52.67%.

Analysts Set New Price Targets

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

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.