Envestnet Asset Management Inc. Has $3.39 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Envestnet Asset Management Inc. increased its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 8.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,726 shares of the company's stock after acquiring an additional 3,426 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Principal Financial Group were worth $3,385,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Principal Financial Group by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company's stock valued at $422,074,000 after purchasing an additional 52,410 shares during the last quarter. Norges Bank acquired a new position in Principal Financial Group in the 4th quarter valued at about $217,021,000. JPMorgan Chase & Co. raised its holdings in Principal Financial Group by 5.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company's stock valued at $211,534,000 after acquiring an additional 118,722 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Principal Financial Group by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,448,507 shares of the company's stock worth $112,129,000 after acquiring an additional 44,818 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Principal Financial Group by 24.1% during the fourth quarter. Amundi now owns 1,359,779 shares of the company's stock worth $106,511,000 after acquiring an additional 264,383 shares during the period. Institutional investors own 75.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada reiterated a "sector perform" rating and set a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. Wells Fargo & Company lowered their price objective on Principal Financial Group from $74.00 to $68.00 and set an "underweight" rating on the stock in a research report on Thursday, April 10th. Piper Sandler boosted their target price on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and lowered their price target for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a "market perform" rating in a report on Wednesday, February 12th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $84.69.

Principal Financial Group Price Performance

Shares of NYSE PFG traded up $0.41 during trading hours on Monday, hitting $73.87. 1,811,578 shares of the stock were exchanged, compared to its average volume of 1,297,708. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $91.98. The company has a market cap of $16.62 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The company's fifty day simple moving average is $80.50 and its two-hundred day simple moving average is $82.13.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its earnings results on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing analysts' consensus estimates of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period last year, the company posted $1.65 earnings per share. On average, sell-side analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.76 per share. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.04 annualized dividend and a yield of 4.12%. Principal Financial Group's payout ratio is presently 44.91%.

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.