AE Wealth Management LLC increased its holdings in shares of Principal Financial Group, Inc. (NASDAQ:PFG – Get Rating) by 18.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 118,186 shares of the company’s stock after purchasing an additional 18,033 shares during the period. AE Wealth Management LLC’s holdings in Principal Financial Group were worth $8,676,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PFG. Allegheny Financial Group LTD purchased a new stake in Principal Financial Group during the fourth quarter valued at approximately $33,000. Mystic Asset Management Inc. purchased a new stake in Principal Financial Group during the fourth quarter valued at approximately $35,000. Clearview Wealth Advisors LLC purchased a new stake in Principal Financial Group during the fourth quarter valued at approximately $37,000. Private Ocean LLC lifted its position in Principal Financial Group by 248.4% during the fourth quarter. Private Ocean LLC now owns 554 shares of the company’s stock valued at $40,000 after acquiring an additional 395 shares during the last quarter. Finally, CVA Family Office LLC purchased a new stake in Principal Financial Group during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 77.69% of the company’s stock.
A number of equities research analysts recently commented on the stock. Morgan Stanley decreased their target price on shares of Principal Financial Group from $75.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday, March 3rd. Citigroup initiated coverage on shares of Principal Financial Group in a research report on Monday, May 23rd. They set a “sell” rating and a $63.00 target price for the company. Piper Sandler raised their price target on shares of Principal Financial Group from $76.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday, April 6th. Finally, Royal Bank of Canada decreased their price target on shares of Principal Financial Group from $82.00 to $79.00 and set a “sector perform” rating for the company in a report on Thursday, March 3rd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $73.70.
Shares of Principal Financial Group stock opened at $67.33 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.10 and a quick ratio of 0.10. The firm has a fifty day moving average price of $69.38 and a 200 day moving average price of $71.43. Principal Financial Group, Inc. has a 1 year low of $58.66 and a 1 year high of $80.36. The stock has a market cap of $17.01 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 1.27 and a beta of 1.46.Principal Financial Group (NASDAQ:PFG – Get Rating) last issued its earnings results on Thursday, April 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.12. Principal Financial Group had a net margin of 11.08% and a return on equity of 12.25%. The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the company posted $1.53 earnings per share. As a group, equities analysts expect that Principal Financial Group, Inc. will post 6.65 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Thursday, June 2nd were issued a dividend of $0.64 per share. The ex-dividend date of this dividend was Wednesday, June 1st. This represents a $2.56 annualized dividend and a dividend yield of 3.80%. Principal Financial Group’s dividend payout ratio (DPR) is presently 43.91%.
In related news, EVP Wee Yee Cheong sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $71.00, for a total transaction of $710,000.00. Following the sale, the executive vice president now owns 37,093 shares in the company, valued at $2,633,603. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.17% of the company’s stock.
Principal Financial Group Company Profile (Get Rating)
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 Global Investors, Principal International, and U.S. Insurance Solutions segments.
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AE Wealth Management LLC Acquires 18033 Shares of Principal Financial Group, Inc. (NASDAQ:PFG) - Defense World
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