Principal Financial Group, Inc. $PFG Shares Sold by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC lessened its stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 46.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,685 shares of the company’s stock after selling 6,617 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Principal Financial Group were worth $693,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. National Wealth Management Group LLC purchased a new stake in Principal Financial Group in the 4th quarter worth approximately $998,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Principal Financial Group during the 4th quarter worth $32,473,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Principal Financial Group by 47.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 50,386 shares of the company’s stock worth $4,630,000 after purchasing an additional 16,171 shares during the period. LBP AM SA acquired a new stake in shares of Principal Financial Group during the fourth quarter worth $10,400,000. Finally, VCI Wealth Management LLC acquired a new stake in shares of Principal Financial Group during the fourth quarter worth $1,650,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Analyst Upgrades and Downgrades

PFG has been the subject of several analyst reports. Piper Sandler upped their target price on Principal Financial Group from $113.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Evercore set a $108.00 price target on Principal Financial Group in a research note on Monday, April 27th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $92.00 price target on shares of Principal Financial Group in a report on Thursday, March 26th. UBS Group upped their price objective on shares of Principal Financial Group from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Finally, Weiss Ratings lowered shares of Principal Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 1st. Three 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $100.90.

Insider Activity at Principal Financial Group

In other news, General Counsel George Djurasovic sold 2,571 shares of the stock in a transaction on 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 sale, the general counsel owned 21,906 shares of the company’s stock, valued at $2,208,781.98. This represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wee Yee Cheong sold 7,534 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider directly owned 66,443 shares in the company, valued at approximately $6,854,259.88. This represents a 10.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 28,317 shares of company stock valued at $2,884,902. 1.13% of the stock is owned by insiders.

Principal Financial Group Stock Performance

Principal Financial Group stock opened at $110.87 on Friday. The stock’s 50-day moving average is $104.45 and its 200-day moving average is $95.93. The company has a market cap of $23.95 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 1.09 and a beta of 0.88. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27. Principal Financial Group, Inc. has a 12 month low of $75.00 and a 12 month high of $112.45.

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 analysts’ expectations 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 quarter in the previous year, the business earned $1.81 EPS. Equities analysts anticipate that Principal Financial Group, Inc. will post 9.37 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Monday, June 1st were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.0%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Monday, June 1st. Principal Financial Group’s dividend payout ratio is presently 46.92%.

Principal Financial Group 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.