Laird Norton Wetherby Wealth Management LLC Has $492,000 Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Laird Norton Wetherby Wealth Management LLC lessened its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 13.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,362 shares of the company’s stock after selling 958 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Principal Financial Group were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Curio Wealth LLC acquired a new stake in shares of Principal Financial Group during the 4th quarter worth approximately $29,000. BankPlus Trust Department acquired a new stake in shares of Principal Financial Group during the 4th quarter worth approximately $33,000. Navigoe LLC bought a new position in shares of Principal Financial Group during the 4th quarter worth approximately $37,000. Covestor Ltd lifted its position in shares of Principal Financial Group by 144.3% during the 4th quarter. Covestor Ltd now owns 540 shares of the company’s stock worth $42,000 after buying an additional 319 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in shares of Principal Financial Group during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Price Performance

NYSE:PFG opened at $81.42 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The stock’s 50 day moving average price is $78.11 and its two-hundred day moving average price is $81.13. The firm has a market capitalization of $18.25 billion, a price-to-earnings ratio of 12.19, a P/E/G ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $91.98.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the prior year, the business posted $1.65 earnings per share. On average, analysts anticipate that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be given a $0.76 dividend. 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 dividend yield of 3.73%. Principal Financial Group’s dividend payout ratio is presently 65.10%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PFG. BMO Capital Markets began coverage on Principal Financial Group in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective for the company. Wells Fargo & Company boosted their target price on Principal Financial Group from $68.00 to $69.00 and gave the company an “underweight” rating in a research note on Tuesday, April 29th. Piper Sandler boosted their target price on Principal Financial Group from $93.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Royal Bank of Canada restated a “sector perform” rating and issued a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. Finally, UBS Group cut their price target on Principal Financial Group from $93.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $83.54.

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.