Osaic Holdings Inc. Purchases 18,296 Shares of Principal Financial Group, Inc. $PFG

Osaic Holdings Inc. grew its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 47.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 57,070 shares of the company’s stock after purchasing an additional 18,296 shares during the quarter. Osaic Holdings Inc.’s holdings in Principal Financial Group were worth $4,614,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Thrivent Financial for Lutherans grew its holdings in Principal Financial Group by 5.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 31,603 shares of the company’s stock valued at $2,509,000 after buying an additional 1,544 shares during the last quarter. State of Wyoming boosted its position in shares of Principal Financial Group by 11.7% in the second quarter. State of Wyoming now owns 2,415 shares of the company’s stock valued at $192,000 after acquiring an additional 252 shares during the period. Caxton Associates LLP grew its stake in shares of Principal Financial Group by 112.0% in the second quarter. Caxton Associates LLP now owns 15,581 shares of the company’s stock worth $1,238,000 after acquiring an additional 8,230 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in Principal Financial Group during the second quarter worth $45,000. Finally, Rexford Capital Inc. bought a new position in Principal Financial Group during the second quarter worth $354,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $89.52 on Wednesday. The business has a 50 day simple moving average of $84.34 and a 200 day simple moving average of $81.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The company has a market capitalization of $19.94 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 0.76 and a beta of 0.89. Principal Financial Group, Inc. has a one year low of $68.39 and a one year high of $92.10.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Monday, October 27th. The company reported $2.32 earnings per share (EPS) for the quarter, topping 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 last year, the company earned $2.05 earnings per share. On average, sell-side analysts forecast that Principal Financial Group, Inc. will post 8.5 EPS 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. Shareholders of record on Wednesday, December 3rd were given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 3.5%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.78. The ex-dividend date was Wednesday, December 3rd. Principal Financial Group’s dividend payout ratio (DPR) is presently 46.00%.

Insiders Place Their Bets

In other news, EVP Wee Yee Cheong sold 1,887 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were 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 owned 81,421 shares of the company’s stock, valued at approximately $6,924,041.84. This trade represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on PFG shares. Piper Sandler increased 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. Morgan Stanley set a $93.00 target price on shares of Principal Financial Group in a research note on Monday, December 15th. Evercore ISI boosted their price target on Principal Financial Group from $92.00 to $94.00 and gave the company an “in-line” rating in a research note on Thursday, October 9th. Wells Fargo & Company upped their price target on Principal Financial Group from $73.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, October 29th. Finally, Keefe, Bruyette & Woods raised their price objective on Principal Financial Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $90.70.

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.