Several big investors adjusted their stakes in Principal Financial Group (PFG). Clarity Asset Management bought $95,000 worth of shares in the fourth quarter. V Square Quantitative Management increased its holdings by 25.2%, now owning 5,357 shares worth $421,000. Syon Capital grew its position by 36.2% with 5,487 shares valued at $432,000. Goldman Sachs raised its stake by 10.2%, now holding 2,157,712 shares worth $169.7 million, and Fortis Group Advisors doubled its investment, acquiring 916 shares valued at $72,000. Institutional investors own 75.08% of the stock.
Principal Financial Group Stock Status
PFG opened at $87.48. Its 50-day moving average is $80.63, and its 200-day is $81.36. The stock’s 1-year low is $66.21, and the high is $88.26, with a market cap of $20.50 billion. The PE ratio is 16.69, and it has a beta of 1.19.
Principal Financial Group reported earnings of $1.63 per share for the last quarter, below the expected $1.87. They generated $4.31 billion in revenue, exceeding the forecast of $3.78 billion. Analysts expect the company to report $7.30 EPS for the year.
Dividend Increase
PFG declared a quarterly dividend of $0.72, up from $0.71. This totals $2.88 annually with a yield of 3.29%. The payout ratio currently is 54.96%.
Analyst Ratings
JPMorgan upgraded PFG from “underweight” to “neutral” with a price target of $96. Citigroup gave a “sell” rating with a target of $70. Wells Fargo set their target at $86. Overall, two analysts rate it as a sell, nine as hold, and one as strong buy, averaging a target price of $85.42.
Company Overview
Principal Financial Group offers retirement, asset management, and insurance services globally through its various segments.
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