Allworth Financial LP lessened its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG – Free Report) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,238 shares of the company’s stock after selling 188 shares during the quarter. Allworth Financial LP’s holdings in Principal Financial Group were worth $648,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of PFG. Fairfield Bush & CO. purchased a new position in Principal Financial Group during the 1st quarter worth $51,000. American Century Companies Inc. boosted its holdings in Principal Financial Group by 25.8% during the 1st quarter. American Century Companies Inc. now owns 35,507 shares of the company’s stock worth $2,607,000 after acquiring an additional 7,292 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in Principal Financial Group by 55.6% during the 1st quarter. Panagora Asset Management Inc. now owns 15,825 shares of the company’s stock worth $1,162,000 after acquiring an additional 5,657 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Principal Financial Group by 5.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,506 shares of the company’s stock worth $2,386,000 after acquiring an additional 1,564 shares during the last quarter. Finally, Cibc World Market Inc. purchased a new position in Principal Financial Group during the 1st quarter worth $1,345,000. 75.08% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently weighed in on PFG. Royal Bank of Canada boosted their price target on shares of Principal Financial Group from $75.00 to $83.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 14th. Keefe, Bruyette & Woods boosted their price target on shares of Principal Financial Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Piper Sandler boosted their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday. Evercore ISI raised shares of Principal Financial Group from an “underperform” rating to an “inline” rating and boosted their price target for the stock from $82.00 to $83.00 in a report on Thursday, January 4th. Finally, Morgan Stanley boosted their price target on shares of Principal Financial Group from $72.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $77.64.
View Our Latest Research Report on Principal Financial GroupPrincipal Financial Group Trading Up 0.1 %
Shares of Principal Financial Group stock opened at $84.62 on Tuesday. Principal Financial Group, Inc. has a 52-week low of $65.17 and a 52-week high of $86.79. The stock’s 50-day simple moving average is $81.36 and its 200 day simple moving average is $76.64. The stock has a market capitalization of $19.96 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.05 and a beta of 1.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.30.
Principal Financial Group (NYSE:PFG – Get Free Report) last announced its quarterly earnings results on Monday, February 12th. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.13. Principal Financial Group had a return on equity of 15.14% and a net margin of 4.56%. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same period in the prior year, the business posted $1.70 earnings per share. As a group, research analysts anticipate that Principal Financial Group, Inc. will post 7.64 EPS for the current year.
Principal Financial Group announced that its Board of Directors has authorized a stock buyback plan on Monday, February 12th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 7.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
Principal Financial Group Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 12th were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, March 11th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.67. This represents a $2.76 annualized dividend and a dividend yield of 3.26%. Principal Financial Group’s dividend payout ratio is currently 112.65%.
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.
Recommended Stories
Receive News & Ratings for Principal Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principal Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.
Allworth Financial LP Sells 188 Shares of Principal Financial Group, Inc. (NYSE:PFG) - Defense World
Read More
Tidak ada komentar:
Posting Komentar