Cambria Investment Management L.P. Has $9.25 Million Holdings in Principal Financial Group, Inc. $PFG

Cambria Investment Management L.P. lessened its position in Principal Financial Group, Inc. (NASDAQ:PFG) by 6.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,584 shares of the company’s stock after selling 7,660 shares during the quarter. Cambria Investment Management L.P. owned about 0.05% of Principal Financial Group worth $9,251,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Principal Financial Group by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 27,345,064 shares of the company’s stock worth $2,172,018,000 after buying an additional 97,149 shares during the period. Bank of America Corp DE boosted its position in shares of Principal Financial Group by 9.6% in the second quarter. Bank of America Corp DE now owns 12,370,852 shares of the company’s stock valued at $982,617,000 after acquiring an additional 1,083,991 shares during the period. Invesco Ltd. grew its stake in shares of Principal Financial Group by 23.2% in the third quarter. Invesco Ltd. now owns 3,376,797 shares of the company’s stock worth $279,970,000 after acquiring an additional 636,334 shares during the last quarter. Norges Bank acquired a new stake in shares of Principal Financial Group in the second quarter worth $227,098,000. Finally, UBS Group AG increased its position in Principal Financial Group by 62.3% during the third quarter. UBS Group AG now owns 2,023,880 shares of the company’s stock worth $167,800,000 after acquiring an additional 776,997 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PFG shares. Bank of America upped their target price on shares of Principal Financial Group from $95.00 to $96.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Piper Sandler raised their price target on shares of Principal Financial Group from $94.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 23rd. UBS Group boosted their price objective on shares of Principal Financial Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Barclays reaffirmed an “underweight” rating and set a $85.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 8th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $103.00 target price on shares of Principal Financial Group in a research note on Monday, January 5th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $94.11.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock opened at $86.68 on Thursday. The stock has a market capitalization of $18.80 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 0.82 and a beta of 0.87. The firm’s 50-day moving average price is $92.08 and its two-hundred day moving average price is $86.86. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $97.88.

Principal Financial Group (NASDAQ:PFG) last posted its earnings results on Wednesday, February 18th. The company reported $2.20 earnings per share (EPS) for the quarter. The company had revenue of $4.58 billion during the quarter. Principal Financial Group had a net margin of 7.58% and a return on equity of 16.09%.

Principal Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Wednesday, March 11th will be given a $0.80 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $3.20 annualized dividend and a yield of 3.7%. Principal Financial Group’s payout ratio is presently 60.72%.

Insider Buying and Selling

In other Principal Financial Group news, CEO Deanna D. Strable-Soethout sold 9,300 shares of the business’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $95.12, for a total value of $884,616.00. Following the transaction, the chief executive officer owned 144,168 shares of the company’s stock, valued at approximately $13,713,260.16. The trade was a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 24,965 shares of company stock valued at $2,352,460 over the last quarter. 1.08% of the stock is currently owned by insiders.

Principal Financial Group Company Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.