Oak Thistle LLC Buys Shares of 8,026 Principal Financial Group, Inc. (NYSE:PFG)

Oak Thistle LLC purchased a new position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,026 shares of the company's stock, valued at approximately $621,000.

Several other institutional investors and hedge funds have also made changes to their positions in PFG. Massachusetts Financial Services Co. MA bought a new stake in shares of Principal Financial Group in the second quarter valued at about $19,698,000. Bank of Montreal Can grew its stake in shares of Principal Financial Group by 41.0% during the third quarter. Bank of Montreal Can now owns 503,735 shares of the company's stock worth $43,367,000 after acquiring an additional 146,473 shares during the last quarter. Mizuho Securities USA LLC grew its stake in shares of Principal Financial Group by 818.1% during the third quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company's stock worth $13,112,000 after acquiring an additional 136,021 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Principal Financial Group by 6,593.7% during the third quarter. International Assets Investment Management LLC now owns 132,200 shares of the company's stock worth $11,356,000 after acquiring an additional 130,225 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings 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 purchasing an additional 118,722 shares during the period. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Price Performance

Shares of PFG traded up $1.06 during trading hours on Thursday, hitting $81.14. 924,808 shares of the stock were exchanged, compared to its average volume of 974,881. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97. The company has a market cap of $18.56 billion, a price-to-earnings ratio of -90.15, a price-to-earnings-growth ratio of 0.75 and a beta of 1.22. The stock's 50-day moving average price is $81.52 and its two-hundred day moving average price is $82.14.

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

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 3.60%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, December 2nd. Principal Financial Group's payout ratio is presently -324.44%.

Wall Street Analyst Weigh In

PFG has been the subject of a number of research reports. Bank of America decreased 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. Keefe, Bruyette & Woods decreased their price target on Principal Financial Group from $93.00 to $90.00 and set a "market perform" rating for the company in a report on Friday, January 10th. Piper Sandler raised Principal Financial Group from a "neutral" rating to an "overweight" rating and set a $90.00 price target for the company in a report on Wednesday, December 18th. Royal Bank of Canada reissued a "sector perform" rating and issued a $91.00 price target on shares of Principal Financial Group in a report on Thursday. Finally, Barclays upped their target price on Principal Financial Group from $75.00 to $77.00 and gave the stock an "underweight" rating in a research note on Friday, October 25th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $84.25.

About Principal Financial Group

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.