Handelsbanken Fonder AB Decreases Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Handelsbanken Fonder AB cut its stake in Principal Financial Group, Inc. (NYSE:PFG) by 25.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,554 shares of the company’s stock after selling 4,565 shares during the period. Handelsbanken Fonder AB’s holdings in Principal Financial Group were worth $1,144,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of PFG. Curio Wealth LLC purchased a new position in shares of Principal Financial Group during the 4th quarter valued at approximately $29,000. BankPlus Trust Department acquired a new position in Principal Financial Group in the fourth quarter valued at approximately $33,000. Navigoe LLC acquired a new stake in shares of Principal Financial Group during the 4th quarter worth about $37,000. Ameriflex Group Inc. purchased a new position in shares of Principal Financial Group during the 4th quarter worth approximately $37,000. Finally, Covestor Ltd boosted its holdings in Principal Financial Group by 144.3% during the 4th quarter. Covestor Ltd now owns 540 shares of the company’s stock valued at $42,000 after acquiring an additional 319 shares during the period. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group cut their price target on Principal Financial Group from $93.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Keefe, Bruyette & Woods lifted their price objective on Principal Financial Group from $86.00 to $87.00 and gave the company a “market perform” rating in a report on Wednesday, May 7th. Morgan Stanley upped their target price on shares of Principal Financial Group from $67.00 to $71.00 and gave the stock an “underweight” rating in a research report on Monday, May 19th. Piper Sandler lifted their target price on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Finally, Barclays reduced their target price on shares of Principal Financial Group from $80.00 to $76.00 and set an “underweight” rating on the stock in a report on Friday, April 11th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $83.85.

Principal Financial Group Stock Performance

Shares of NYSE:PFG opened at $75.90 on Friday. The stock has a market capitalization of $17.02 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 0.76 and a beta of 1.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.98. The business’s fifty day moving average price is $76.32 and its two-hundred day moving average price is $80.00.

Principal Financial Group (NYSE:PFG) last released its earnings results on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same quarter last year, the business posted $1.65 EPS. As a group, analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.76 per share. The ex-dividend date is Monday, June 2nd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a yield of 4.01%. Principal Financial Group’s payout ratio is 65.10%.

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.