396 Shares in Principal Financial Group, Inc. (NYSE:PFG) Bought by Riverview Trust Co

Riverview Trust Co bought a new position in Principal Financial Group, Inc. (NYSE:PFG) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 396 shares of the company’s stock, valued at approximately $34,000.

Several other institutional investors have also recently bought and sold shares of the company. Unison Advisors LLC raised its holdings in Principal Financial Group by 1.2% in the 1st quarter. Unison Advisors LLC now owns 57,341 shares of the company’s stock worth $4,949,000 after acquiring an additional 705 shares during the period. Lloyd Advisory Services LLC. bought a new position in shares of Principal Financial Group during the 1st quarter worth about $955,000. City State Bank increased its holdings in shares of Principal Financial Group by 1.7% during the 1st quarter. City State Bank now owns 8,216 shares of the company’s stock worth $709,000 after purchasing an additional 141 shares during the period. Legacy Financial Group LLC bought a new position in shares of Principal Financial Group during the 1st quarter worth about $718,000. Finally, Wedmont Private Capital bought a new position in shares of Principal Financial Group during the 1st quarter worth about $209,000. Institutional investors own 75.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PFG. Wells Fargo & Company dropped their price objective 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. Evercore ISI boosted their price objective 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 lifted their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Keefe, Bruyette & Woods lifted their target price on shares of 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. Finally, Morgan Stanley lifted their target price on shares of Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $80.30.

Principal Financial Group Price Performance

NYSE:PFG opened at $80.11 on Wednesday. The firm has a market cap of $18.78 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 0.87 and a beta of 1.23. Principal Financial Group, Inc. has a 12 month low of $66.21 and a 12 month high of $86.79. 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 company’s 50-day moving average price is $80.94 and its two-hundred day moving average price is $80.53.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.68 billion. Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. During the same quarter last year, the firm earned $1.48 earnings per share. On average, equities analysts anticipate that Principal Financial Group, Inc. will post 7.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

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

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.