Lecap Asset Management Ltd. Grows Holdings in Principal Financial Group, Inc. $PFG

Lecap Asset Management Ltd. grew its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 42.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,596 shares of the company’s stock after purchasing an additional 5,801 shares during the period. Lecap Asset Management Ltd.’s holdings in Principal Financial Group were worth $1,625,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. grew its stake in Principal Financial Group by 7.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,889 shares of the company’s stock worth $159,000 after acquiring an additional 134 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in shares of Principal Financial Group by 2.5% during the second quarter. Chicago Partners Investment Group LLC now owns 5,550 shares of the company’s stock worth $449,000 after purchasing an additional 137 shares during the last quarter. Sagespring Wealth Partners LLC grew its position in shares of Principal Financial Group by 4.0% in the second quarter. Sagespring Wealth Partners LLC now owns 4,035 shares of the company’s stock valued at $321,000 after purchasing an additional 154 shares during the period. Gentry Private Wealth LLC increased its stake in Principal Financial Group by 2.2% in the second quarter. Gentry Private Wealth LLC now owns 7,099 shares of the company’s stock valued at $564,000 after purchasing an additional 156 shares during the last quarter. Finally, IHT Wealth Management LLC increased its stake in Principal Financial Group by 3.4% in the second quarter. IHT Wealth Management LLC now owns 5,425 shares of the company’s stock valued at $431,000 after purchasing an additional 178 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Insider Buying and Selling

In other news, EVP Wee Yee Cheong sold 1,887 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $85.04, for a total transaction of $160,470.48. Following the completion of the sale, the executive vice president directly owned 81,421 shares in the company, valued at $6,924,041.84. This trade represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.08% of the stock is owned by corporate insiders.

Principal Financial Group Trading Down 1.0%

NYSE:PFG opened at $90.88 on Thursday. The business’s 50-day moving average is $86.48 and its two-hundred day moving average is $82.33. The firm has a market capitalization of $20.25 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 0.76 and a beta of 0.89. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $92.20. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Monday, October 27th. The company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.20 by $0.12. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same quarter in the prior year, the company posted $2.05 EPS. Research analysts predict that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Wednesday, December 3rd were paid a dividend of $0.79 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Wednesday, December 3rd. This represents a $3.16 annualized dividend and a yield of 3.5%. Principal Financial Group’s payout ratio is presently 46.00%.

Analyst Ratings Changes

A number of analysts have issued reports on PFG shares. Evercore ISI raised their price target on Principal Financial Group from $92.00 to $94.00 and gave the stock an “in-line” rating in a research note on Thursday, October 9th. Wells Fargo & Company increased their price objective on shares of Principal Financial Group from $73.00 to $74.00 and gave the stock an “underweight” rating in a report on Wednesday, October 29th. Keefe, Bruyette & Woods boosted their target price on shares of Principal Financial Group from $90.00 to $91.00 and gave the company a “market perform” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $103.00 price target on shares of Principal Financial Group in a research note on Monday. Finally, Piper Sandler lifted their price target on shares of Principal Financial Group from $94.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, December 23rd. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $90.90.

About Principal Financial Group

Principal Financial Group, commonly known as Principal, is a global financial services company headquartered in Des Moines, Iowa. The firm provides a broad range of retirement, investment management and insurance solutions for individual, employer and institutional clients. Its core businesses include retirement plan services and recordkeeping, asset management, and life and disability insurance, supported by distribution through employers, financial advisors and direct channels.

On the retirement side, Principal offers 401(k) and other workplace retirement plans, individual retirement accounts and annuity products designed to help clients accumulate and manage retirement savings.