Principal Securities Inc. Acquires 1,564 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Principal Securities Inc. raised its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 114.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,933 shares of the company’s stock after purchasing an additional 1,564 shares during the period. Principal Securities Inc.’s holdings in Principal Financial Group were worth $227,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AustralianSuper Pty Ltd raised its position in Principal Financial Group by 23.2% during the 4th quarter. AustralianSuper Pty Ltd now owns 665,410 shares of the company’s stock valued at $51,509,000 after purchasing an additional 125,198 shares during the last quarter. V Square Quantitative Management LLC raised its position in shares of Principal Financial Group by 6.4% in the 4th quarter. V Square Quantitative Management LLC now owns 8,185 shares of the company’s stock worth $634,000 after acquiring an additional 493 shares in the last quarter. IMS Capital Management bought a new position in shares of Principal Financial Group in the 4th quarter worth approximately $224,000. Asset Management One Co. Ltd. raised its position in shares of Principal Financial Group by 0.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 109,548 shares of the company’s stock worth $8,513,000 after acquiring an additional 448 shares in the last quarter. Finally, Leavell Investment Management Inc. raised its position in shares of Principal Financial Group by 5.4% in the 4th quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock worth $208,000 after acquiring an additional 138 shares in the last quarter. Institutional investors own 75.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PFG shares. Morgan Stanley reissued an “underweight” rating and issued a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Barclays increased their target price on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, February 7th. Piper Sandler increased their target price on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $91.00 price target on shares of Principal Financial Group in a research note on Thursday, January 16th. Finally, BMO Capital Markets started coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Principal Financial Group presently has a consensus rating of “Hold” and a consensus target price of $85.92.

Principal Financial Group Stock Performance

Shares of PFG opened at $84.38 on Monday. The business’s fifty day simple moving average is $80.69 and its two-hundred day simple moving average is $82.55. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.97. The company has a market cap of $19.03 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 0.76 and a beta of 1.22.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.75 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.56%. Principal Financial Group’s dividend payout ratio (DPR) is presently 43.71%.

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.