Hoylecohen LLC Increases Position in Principal Financial Group, Inc. (NYSE:PFG)

Hoylecohen LLC lifted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,230 shares of the company’s stock after purchasing an additional 141 shares during the period. Hoylecohen LLC’s holdings in Principal Financial Group were worth $4,738,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. increased its stake in shares of Principal Financial Group by 0.3% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 92,562 shares of the company’s stock worth $7,282,000 after purchasing an additional 262 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its holdings in Principal Financial Group by 6.7% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 18,800 shares of the company’s stock worth $1,479,000 after buying an additional 1,174 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Principal Financial Group in the 4th quarter valued at approximately $1,786,000. Trexquant Investment LP bought a new position in shares of Principal Financial Group during the 4th quarter valued at $3,552,000. Finally, Corient Private Wealth LLC grew its stake in Principal Financial Group by 5.1% in the 4th quarter. Corient Private Wealth LLC now owns 31,612 shares of the company’s stock valued at $2,487,000 after buying an additional 1,536 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Price Performance

NYSE PFG traded up $0.80 during mid-day trading on Friday, hitting $82.22. The stock had a trading volume of 875,633 shares, compared to its average volume of 1,084,647. 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 firm’s 50 day moving average is $82.67 and its 200 day moving average is $79.23. The stock has a market capitalization of $19.27 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 0.90 and a beta of 1.24. Principal Financial Group, Inc. has a twelve month low of $65.17 and a twelve month high of $86.79.

Principal Financial Group (NYSE:PFG) last posted its quarterly 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 during the quarter, compared to analyst estimates 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 period in the prior year, the business earned $1.48 EPS. Equities research analysts forecast that Principal Financial Group, Inc. will post 7.5 earnings per share for the current fiscal year.

Principal Financial Group declared that its board has approved a stock buyback program on Monday, February 12th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to reacquire 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Monday, June 3rd will be paid 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 annualized dividend and a yield of 3.45%. The ex-dividend date is Monday, June 3rd. Principal Financial Group’s dividend payout ratio is presently 54.20%.

Analyst Ratings Changes

A number of brokerages have weighed in on PFG. Evercore ISI boosted their target price on shares of 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. Piper Sandler raised their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Morgan Stanley raised their price objective 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. Keefe, Bruyette & Woods lifted their price target on shares of 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. Finally, Wells Fargo & Company lowered their target price on Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday, April 29th. Two analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.