Nemes Rush Group LLC Has $118,000 Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Nemes Rush Group LLC decreased its stake in Principal Financial Group, Inc. (NYSE:PFG) by 33.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,506 shares of the company’s stock after selling 771 shares during the period. Nemes Rush Group LLC’s holdings in Principal Financial Group were worth $118,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PFG. Wellington Management Group LLP grew its position 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 worth $318,836,000 after purchasing an additional 575,646 shares during the last quarter. Northern Trust Corp grew its position in Principal Financial Group by 0.4% during the third quarter. Northern Trust Corp now owns 3,920,915 shares of the company’s stock worth $282,580,000 after buying an additional 16,052 shares in the last quarter. Norges Bank bought a new position in Principal Financial Group during the fourth quarter valued at about $253,990,000. Invesco Ltd. raised its holdings in Principal Financial Group by 12.6% in the 3rd quarter. Invesco Ltd. now owns 2,231,757 shares of the company’s stock valued at $160,843,000 after acquiring an additional 249,127 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Principal Financial Group by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,311,223 shares of the company’s stock worth $103,154,000 after acquiring an additional 29,462 shares during the period. Institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on PFG shares. Keefe, Bruyette & Woods boosted their price objective 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. Evercore ISI increased 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. Piper Sandler lifted their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Wells Fargo & Company dropped their price target on shares of Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, April 29th. Finally, Morgan Stanley lifted their price objective on Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a 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 MarketBeat, the company has an average rating of “Hold” and a consensus target price of $80.30.

Principal Financial Group Trading Down 0.1 %

Shares of PFG traded down $0.07 during trading hours on Wednesday, hitting $83.42. 217,254 shares of the stock traded hands, compared to its average volume of 1,082,311. The business has a fifty day moving average of $82.60 and a 200-day moving average of $79.19. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $19.55 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 0.90 and a beta of 1.24. Principal Financial Group, Inc. has a 1-year low of $65.17 and a 1-year high of $86.79.

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 net margin of 8.70% and a return on equity of 15.06%. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. Analysts expect that Principal Financial Group, Inc. will post 7.5 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 3.40%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.69. Principal Financial Group’s dividend payout ratio (DPR) is 52.67%.

Principal Financial Group announced that its board has authorized a stock buyback program on Monday, February 12th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 7.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.