American International Group Inc. Has $4.54 Million Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

American International Group Inc. lowered its stake in Principal Financial Group, Inc. (NYSE:PFG) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,701 shares of the company’s stock after selling 2,280 shares during the period. American International Group Inc.’s holdings in Principal Financial Group were worth $4,539,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Independent Advisor Alliance boosted its position in Principal Financial Group by 11.4% in the fourth quarter. Independent Advisor Alliance now owns 5,130 shares of the company’s stock valued at $404,000 after buying an additional 524 shares in the last quarter. Hsbc Holdings PLC boosted its position in Principal Financial Group by 12.3% in the fourth quarter. Hsbc Holdings PLC now owns 1,360,338 shares of the company’s stock valued at $107,030,000 after buying an additional 149,353 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Principal Financial Group by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,311,223 shares of the company’s stock valued at $103,154,000 after buying an additional 29,462 shares in the last quarter. Comerica Bank acquired a new stake in Principal Financial Group in the third quarter valued at approximately $4,667,000. Finally, Jump Financial LLC acquired a new stake in Principal Financial Group in the fourth quarter valued at approximately $1,507,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Trading Down 0.3 %

PFG opened at $80.01 on Friday. Principal Financial Group, Inc. has a 1-year low of $66.21 and a 1-year high of $86.79. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.35. The company has a market cap of $18.75 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 0.86 and a beta of 1.23. The company has a fifty day moving average price of $80.86 and a two-hundred day moving average price of $80.41.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.65 earnings per share 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 during the quarter, compared to the consensus estimate of $3.68 billion. During the same period last year, the firm posted $1.48 earnings per share. Analysts predict that Principal Financial Group, Inc. will post 7.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd will be paid a $0.71 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.69. This represents a $2.84 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Monday, June 3rd. Principal Financial Group’s payout ratio is 54.20%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PFG. Evercore ISI lifted their price target 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. Keefe, Bruyette & Woods lifted their price target on shares of Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Morgan Stanley lifted their price target on shares of Principal Financial Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Piper Sandler lifted 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, April 5th. Finally, Wells Fargo & Company cut their price target on shares of Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Two research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat.com, Principal Financial Group currently has a consensus rating of “Hold” and an average target price of $80.30.

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.