Principal Financial Group, Inc. (NYSE:PFG) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC grew its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 8.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,451 shares of the company’s stock after acquiring an additional 1,080 shares during the quarter. HighTower Advisors LLC’s holdings in Principal Financial Group were worth $1,119,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Principal Financial Group by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock worth $211,534,000 after purchasing an additional 118,722 shares during the period. Charles Schwab Investment Management Inc. increased its stake 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 worth $112,129,000 after acquiring an additional 44,818 shares during the period. Amundi raised its holdings in shares of Principal Financial Group by 24.1% during the fourth quarter. Amundi now owns 1,359,779 shares of the company’s stock worth $106,511,000 after purchasing an additional 264,383 shares during the last quarter. Barclays PLC lifted its position in Principal Financial Group by 12.3% during the third quarter. Barclays PLC now owns 806,672 shares of the company’s stock valued at $69,293,000 after purchasing an additional 88,179 shares during the period. Finally, AustralianSuper Pty Ltd lifted 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 period. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Trading Down 0.1 %

Shares of PFG stock opened at $85.60 on Thursday. The company has a 50-day moving average of $84.05 and a two-hundred day moving average of $83.59. The firm has a market cap of $19.31 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.98. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Wednesday, March 12th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio (DPR) is 44.91%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PFG shares. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price objective on Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. Morgan Stanley restated an “underweight” rating and issued a $80.00 price objective (down 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 company an “underweight” rating in a research report on Friday, February 7th. Finally, Piper Sandler boosted their price target on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Principal Financial Group presently has an average rating of “Hold” and an average target price of $85.92.

Principal Financial Group Company 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.