CHURCHILL MANAGEMENT Corp Has $8.13 Million Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

CHURCHILL MANAGEMENT Corp raised its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,009 shares of the company’s stock after acquiring an additional 4,828 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in Principal Financial Group were worth $8,129,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PFG. Dimensional Fund Advisors LP grew its holdings in shares of Principal Financial Group by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,905,124 shares of the company’s stock valued at $306,393,000 after purchasing an additional 39,854 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Principal Financial Group by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock worth $211,534,000 after buying an additional 118,722 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Principal Financial Group by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,403,689 shares of the company’s stock worth $120,577,000 after buying an additional 18,801 shares in the last quarter. Barclays PLC lifted its stake in shares of Principal Financial Group by 12.3% in the 3rd quarter. Barclays PLC now owns 806,672 shares of the company’s stock valued at $69,293,000 after acquiring an additional 88,179 shares during the last quarter. Finally, AustralianSuper Pty Ltd lifted its stake in shares of Principal Financial Group by 27.2% in the 3rd quarter. AustralianSuper Pty Ltd now owns 540,212 shares of the company’s stock valued at $46,404,000 after acquiring an additional 115,569 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Up 1.6 %

Shares of NYSE:PFG opened at $80.08 on Thursday. The business’s 50-day moving average is $81.64 and its 200-day moving average is $82.16. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97. The company has a market capitalization of $18.32 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 0.75 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same quarter in the previous year, the company posted $1.72 earnings per share. Equities research analysts predict that Principal Financial Group, Inc. will post 7.01 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid a $0.73 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend was Monday, December 2nd. Principal Financial Group’s payout ratio is -324.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PFG. Bank of America lowered their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Royal Bank of Canada raised their price objective on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. Piper Sandler raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 target price on the stock in a report on Wednesday, December 18th. Finally, Wells Fargo & Company dropped their price target on shares of Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $84.25.

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.