Apollon Wealth Management LLC Has $396,000 Stake in Principal Financial Group, Inc. (NYSE:PFG)

Apollon Wealth Management LLC increased its position in Principal Financial Group, Inc. (NYSE:PFG) by 21.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,034 shares of the company’s stock after buying an additional 894 shares during the period. Apollon Wealth Management LLC’s holdings in Principal Financial Group were worth $396,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ellevest Inc. raised its holdings in shares of Principal Financial Group by 3.3% during the 3rd quarter. Ellevest Inc. now owns 4,644 shares of the company’s stock valued at $335,000 after purchasing an additional 149 shares in the last quarter. Merit Financial Group LLC boosted its stake in shares of Principal Financial Group by 2.3% during the 3rd quarter. Merit Financial Group LLC now owns 6,947 shares of the company’s stock worth $501,000 after acquiring an additional 153 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Principal Financial Group by 1.3% during the 4th quarter. Verdence Capital Advisors LLC now owns 11,776 shares of the company’s stock valued at $926,000 after acquiring an additional 153 shares during the last quarter. Quent Capital LLC raised its stake in shares of Principal Financial Group by 15.5% in the 4th quarter. Quent Capital LLC now owns 1,185 shares of the company’s stock valued at $93,000 after acquiring an additional 159 shares in the last quarter. Finally, Pinion Investment Advisors LLC lifted its holdings in Principal Financial Group by 1.9% in the 3rd quarter. Pinion Investment Advisors LLC now owns 9,193 shares of the company’s stock worth $663,000 after purchasing an additional 169 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Price Performance

PFG opened at $83.96 on Monday. 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 stock has a market capitalization of $19.68 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 0.90 and a beta of 1.24. The company’s 50 day simple moving average is $82.06 and its 200-day simple moving average is $78.34. 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 announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $3.68 billion. Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. During the same quarter in the previous year, the business posted $1.48 earnings per share. Sell-side analysts anticipate that Principal Financial Group, Inc. will post 7.52 earnings per share for the current fiscal year.

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

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Monday, June 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.38%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Monday, June 3rd. Principal Financial Group’s payout ratio is 52.67%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PFG shares. Evercore ISI lifted their price target on shares of 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. 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 research report on Wednesday, February 14th. 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. 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. Finally, Morgan Stanley boosted their price target on shares of Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Two research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.