Atria Investments Inc Invests $304,000 in Principal Financial Group, Inc. (NYSE:PFG)

Atria Investments Inc acquired a new position in shares of Principal Financial Group, Inc. (NYSE:PFG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,929 shares of the company’s stock, valued at approximately $304,000.

Several other institutional investors have also modified their holdings of PFG. JPMorgan Chase & Co. grew its position in Principal Financial Group by 5.1% in the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock valued at $211,534,000 after purchasing an additional 118,722 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Principal Financial Group by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,448,507 shares of the company’s stock valued at $112,129,000 after acquiring an additional 44,818 shares during the last quarter. Barclays PLC raised its holdings in Principal Financial Group by 12.3% during the third quarter. Barclays PLC now owns 806,672 shares of the company’s stock worth $69,293,000 after acquiring an additional 88,179 shares in the last quarter. AustralianSuper Pty Ltd boosted its position in Principal Financial Group by 23.2% during the fourth 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. Finally, Bank of Montreal Can boosted its position in Principal Financial Group by 41.0% during the third quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock valued at $43,367,000 after purchasing an additional 146,473 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PFG. BMO Capital Markets began coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 target price for the company. Morgan Stanley restated an “underweight” rating and set a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Finally, Piper Sandler lifted their target price on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Trading Up 1.3 %

Shares of Principal Financial Group stock opened at $83.88 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The firm has a 50-day moving average of $83.18 and a 200-day moving average of $83.41. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.98. The stock has a market cap of $18.92 billion, a PE ratio of 12.56, a PEG ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be issued a $0.75 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.58%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s payout ratio is currently 44.91%.

Principal Financial Group Profile

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.