Victory Capital Management Inc. Has $25.66 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Victory Capital Management Inc. raised its stake in Principal Financial Group, Inc. (NYSE:PFG) by 9.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 326,188 shares of the company’s stock after purchasing an additional 27,887 shares during the period. Victory Capital Management Inc. owned approximately 0.14% of Principal Financial Group worth $25,661,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hartford Funds Management Co LLC lifted its stake in shares of Principal Financial Group by 83.3% in the fourth quarter. Hartford Funds Management Co LLC now owns 8,209 shares of the company’s stock valued at $646,000 after buying an additional 3,731 shares during the period. Savant Capital LLC lifted its position in shares of Principal Financial Group by 2.7% in the 4th quarter. Savant Capital LLC now owns 12,964 shares of the company’s stock worth $1,020,000 after acquiring an additional 346 shares during the period. Brighton Jones LLC acquired a new stake in shares of Principal Financial Group during the 4th quarter worth approximately $218,000. Steele Capital Management Inc. bought a new stake in shares of Principal Financial Group during the fourth quarter valued at approximately $456,000. Finally, Choreo LLC raised its stake in shares of Principal Financial Group by 37.0% in the fourth quarter. Choreo LLC now owns 7,265 shares of the company’s stock valued at $572,000 after purchasing an additional 1,961 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Up 0.6 %

Shares of NYSE PFG opened at $82.98 on Thursday. Principal Financial Group, Inc. has a 12-month low of $65.17 and a 12-month high of $86.79. The firm’s 50-day simple moving average is $81.88 and its 200 day simple moving average is $78.08. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.35. The company has a market cap of $19.45 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 0.92 and a beta of 1.24.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, April 25th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). The company had revenue of $4.05 billion for the quarter, compared to analyst estimates 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 company posted $1.48 earnings per share. On average, research analysts expect that Principal Financial Group, Inc. will post 7.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Monday, June 3rd will be paid a $0.71 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.69. This represents a $2.84 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Monday, June 3rd. Principal Financial Group’s dividend payout ratio (DPR) is 52.67%.

Principal Financial Group declared that its board has initiated a stock repurchase plan on Monday, February 12th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 7.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

PFG has been the topic of several analyst reports. Wells Fargo & Company lowered their price target 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. Royal Bank of Canada raised their price target on shares of Principal Financial Group from $75.00 to $83.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 14th. Morgan Stanley upped their price objective 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. Evercore ISI raised their target price on Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods upped their price target on Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.