SG Americas Securities LLC Has $21.59 Million Stock Position in Principal Financial Group, Inc. $PFG

SG Americas Securities LLC lifted its holdings in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 2,878.1% in the 4th quarter, HoldingsChannel reports. The fund owned 244,711 shares of the company’s stock after purchasing an additional 236,494 shares during the period. SG Americas Securities LLC’s holdings in Principal Financial Group were worth $21,586,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PFG. Capital A Wealth Management LLC boosted its stake in Principal Financial Group by 5,533.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 338 shares of the company’s stock valued at $27,000 after purchasing an additional 332 shares during the last quarter. FWL Investment Management LLC purchased a new stake in shares of Principal Financial Group in the third quarter worth approximately $32,000. CYBER HORNET ETFs LLC purchased a new stake in shares of Principal Financial Group in the second quarter worth approximately $45,000. True Wealth Design LLC lifted its holdings in shares of Principal Financial Group by 87.9% in the fourth quarter. True Wealth Design LLC now owns 511 shares of the company’s stock valued at $45,000 after purchasing an additional 239 shares in the last quarter. Finally, Financial Consulate Inc. purchased a new position in shares of Principal Financial Group during the third quarter valued at approximately $46,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock opened at $87.01 on Friday. The business’s fifty day simple moving average is $91.64 and its 200 day simple moving average is $87.15. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $97.88. The firm has a market capitalization of $18.87 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 0.83 and a beta of 0.87.

Principal Financial Group (NASDAQ:PFG) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $2.20 earnings per share (EPS) for the quarter. Principal Financial Group had a return on equity of 16.09% and a net margin of 7.58%.The firm had revenue of $4.58 billion during the quarter.

Principal Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Wednesday, March 11th were given a dividend of $0.80 per share. The ex-dividend date was Wednesday, March 11th. This represents a $3.20 annualized dividend and a yield of 3.7%. Principal Financial Group’s dividend payout ratio is presently 60.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PFG shares. Piper Sandler upped their price target on Principal Financial Group from $94.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, December 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $103.00 price objective on shares of Principal Financial Group in a report on Monday, January 5th. Wells Fargo & Company upgraded shares of Principal Financial Group from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $85.00 to $91.00 in a research note on Wednesday, February 25th. Barclays reiterated an “underweight” rating and issued a $85.00 target price on shares of Principal Financial Group in a report on Thursday, January 8th. Finally, Weiss Ratings raised shares of Principal Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $94.22.

Insiders Place Their Bets

In related news, CEO Deanna D. Strable-Soethout sold 9,300 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $95.12, for a total transaction of $884,616.00. Following the completion of the sale, the chief executive officer owned 144,168 shares in the company, valued at approximately $13,713,260.16. This trade represents a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 24,965 shares of company stock worth $2,352,460 in the last three months. 1.08% of the stock is currently owned by corporate insiders.

Principal Financial Group Company Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.