Principal Financial Group, Inc. (NYSE:PFG) Shares Purchased by Richardson Financial Services Inc.

Richardson Financial Services Inc. increased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 12.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,580 shares of the company’s stock after purchasing an additional 180 shares during the quarter. Richardson Financial Services Inc.’s holdings in Principal Financial Group were worth $136,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Spire Wealth Management lifted its holdings in Principal Financial Group by 152.0% during the 4th quarter. Spire Wealth Management now owns 373 shares of the company’s stock worth $29,000 after buying an additional 225 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in Principal Financial Group during the 4th quarter worth about $31,000. Fortis Group Advisors LLC purchased a new stake in Principal Financial Group during the 3rd quarter worth about $33,000. Newbridge Financial Services Group Inc. purchased a new stake in Principal Financial Group during the 4th quarter worth about $33,000. Finally, Riverview Trust Co purchased a new stake in Principal Financial Group during the 1st quarter worth about $34,000. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

PFG traded up $2.02 on Thursday, hitting $83.57. 533,817 shares of the company traded hands, compared to its average volume of 1,093,244. The company has a 50 day moving average of $80.73 and a 200-day moving average of $80.60. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $19.59 billion, a PE ratio of 15.86, a PEG ratio of 0.85 and a beta of 1.21. Principal Financial Group, Inc. has a 12-month low of $66.21 and a 12-month high of $86.79.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.09). Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. The company had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the prior year, the company earned $1.48 earnings per share. Sell-side analysts anticipate that Principal Financial Group, Inc. will post 7.44 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd were given a dividend of $0.71 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.69. The ex-dividend date was Monday, June 3rd. This represents a $2.84 annualized dividend and a yield of 3.40%. Principal Financial Group’s payout ratio is presently 54.20%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PFG. Raymond James raised Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 target price for the company in a report on Tuesday. Keefe, Bruyette & Woods boosted their target price on Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Piper Sandler boosted their target price on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Bank of America boosted their target price on Principal Financial Group from $87.00 to $94.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Morgan Stanley boosted their target price on Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $84.92.

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.