NewSquare Capital LLC Has $7.99 Million Stake in Principal Financial Group, Inc. (NYSE:PFG)

NewSquare Capital LLC raised its position in Principal Financial Group, Inc. (NYSE:PFG) by 1.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 103,177 shares of the company’s stock after purchasing an additional 1,850 shares during the period. NewSquare Capital LLC’s holdings in Principal Financial Group were worth $7,993,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of Principal Financial Group by 15.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,423,975 shares of the company’s stock worth $318,836,000 after acquiring an additional 575,646 shares in the last quarter. Northern Trust Corp raised its stake in Principal Financial Group by 0.4% in the third quarter. Northern Trust Corp now owns 3,920,915 shares of the company’s stock valued at $282,580,000 after purchasing an additional 16,052 shares in the last quarter. Invesco Ltd. raised its stake in Principal Financial Group by 12.6% in the third quarter. Invesco Ltd. now owns 2,231,757 shares of the company’s stock valued at $160,843,000 after purchasing an additional 249,127 shares in the last quarter. Hsbc Holdings PLC grew its position in Principal Financial Group by 60.5% during the third quarter. Hsbc Holdings PLC now owns 1,210,985 shares of the company’s stock valued at $87,305,000 after acquiring an additional 456,455 shares during the last quarter. Finally, RIA Advisory Group LLC grew its holdings in shares of Principal Financial Group by 35,473.1% in the fourth quarter. RIA Advisory Group LLC now owns 1,080,000 shares of the company’s stock worth $84,964,000 after purchasing an additional 1,076,964 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Shares of PFG traded up $0.16 during trading hours on Tuesday, hitting $81.51. 737,900 shares of the stock were exchanged, compared to its average volume of 1,128,736. 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, Inc. has a 12-month low of $65.17 and a 12-month high of $86.79. The company has a market cap of $19.17 billion, a price-to-earnings ratio of 33.19, a price-to-earnings-growth ratio of 0.85 and a beta of 1.25. The stock’s 50-day moving average price is $81.68 and its two-hundred day moving average price is $77.25.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Monday, February 12th. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same quarter in the previous year, the company posted $1.70 earnings per share. Research analysts expect that Principal Financial Group, Inc. will post 7.6 earnings per share for the current year.

Principal Financial Group declared that its board has initiated a stock buyback program on Monday, February 12th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 7.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 12th were paid a dividend of $0.69 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.76 annualized dividend and a yield of 3.39%. Principal Financial Group’s dividend payout ratio is presently 112.65%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PFG. Royal Bank of Canada lifted their price target on shares of Principal Financial Group from $75.00 to $83.00 and gave the company a “sector perform” rating in a report on Wednesday, February 14th. Evercore ISI increased their target price on shares of Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Piper Sandler upped their price target on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Wells Fargo & Company upped their price target on Principal Financial Group from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods increased their target price on Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $80.64.

Principal Financial Group Company 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.