Principal Financial Group, Inc. $PFG Shares Acquired by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Principal Financial Group, Inc. (NASDAQ:PFG) by 120.3% in the first quarter, Holdings Channel.com reports. The fund owned 55,401 shares of the company’s stock after buying an additional 30,250 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Principal Financial Group were worth $4,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in PFG. Integrated Wealth Concepts LLC acquired a new position in shares of Principal Financial Group in the 1st quarter valued at $244,000. NewEdge Advisors LLC grew its position in Principal Financial Group by 24.1% during the 1st quarter. NewEdge Advisors LLC now owns 7,503 shares of the company’s stock worth $633,000 after purchasing an additional 1,455 shares during the last quarter. Empowered Funds LLC grew its position in Principal Financial Group by 11.9% during the 1st quarter. Empowered Funds LLC now owns 4,678 shares of the company’s stock worth $395,000 after purchasing an additional 497 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Principal Financial Group by 96.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the company’s stock valued at $181,000 after purchasing an additional 1,117 shares during the period. Finally, Cerity Partners LLC increased its stake in Principal Financial Group by 9.1% in the second quarter. Cerity Partners LLC now owns 37,957 shares of the company’s stock valued at $3,015,000 after purchasing an additional 3,175 shares during the period. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Shares of PFG opened at $110.87 on Monday. Principal Financial Group, Inc. has a twelve month low of $75.00 and a twelve month high of $112.45. The stock’s 50 day moving average is $104.72 and its two-hundred day moving average is $96.07. The firm has a market capitalization of $23.95 billion, a PE ratio of 15.86, a P/E/G ratio of 1.11 and a beta of 0.88. 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 (NASDAQ:PFG) last issued its earnings results on Wednesday, April 29th. The company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.06. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $4.11 billion. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.During the same period in the prior year, the business posted $1.81 EPS. Research analysts anticipate that Principal Financial Group, Inc. will post 9.37 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 1st were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.0%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.80. The ex-dividend date was Monday, June 1st. Principal Financial Group’s dividend payout ratio (DPR) is 46.92%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PFG shares. Piper Sandler increased their target price on shares of Principal Financial Group from $113.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Bank of America reaffirmed an “underperform” rating and set a $95.00 price objective (down from $98.00) on shares of Principal Financial Group in a research note on Wednesday, June 24th. Barclays increased their price objective on Principal Financial Group from $85.00 to $87.00 and gave the stock an “underweight” rating in a research report on Friday, April 24th. Citigroup downgraded Principal Financial Group from a “sell” rating to an “underperform” rating in a research note on Wednesday, June 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $92.00 price target on shares of Principal Financial Group in a report on Thursday, March 26th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $100.90.

Insider Transactions at Principal Financial Group

In other Principal Financial Group news, General Counsel George Djurasovic sold 2,571 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $100.83, for a total value of $259,233.93. Following the completion of the transaction, the general counsel directly owned 21,906 shares of the company’s stock, valued at approximately $2,208,781.98. This trade represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Wee Yee Cheong sold 7,534 shares of Principal Financial Group stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $103.16, for a total transaction of $777,207.44. Following the sale, the insider owned 66,443 shares of the company’s stock, valued at approximately $6,854,259.88. The trade was a 10.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 28,317 shares of company stock worth $2,884,902. 1.13% of the stock is owned by insiders.

About Principal Financial Group

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.