Principal Financial Group, Inc. (NYSE:PFG) Holdings Raised by Allworth Financial LP

Allworth Financial LP increased its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,866 shares of the company’s stock after acquiring an additional 397 shares during the period. Allworth Financial LP’s holdings in Principal Financial Group were worth $642,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. KBC Group NV raised its stake in shares of Principal Financial Group by 398.4% during the 4th quarter. KBC Group NV now owns 291,379 shares of the company’s stock worth $22,555,000 after purchasing an additional 232,915 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Principal Financial Group by 85.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock valued at $40,041,000 after buying an additional 215,045 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Principal Financial Group by 41.0% during the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after purchasing an additional 146,473 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in shares of Principal Financial Group by 818.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock worth $13,112,000 after purchasing an additional 136,021 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Principal Financial Group by 6,593.7% during the 3rd quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock worth $11,356,000 after purchasing an additional 130,225 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Up 0.4 %

NYSE PFG opened at $86.56 on Friday. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. The stock has a market capitalization of $19.80 billion, a PE ratio of 12.96, a PEG ratio of 0.76 and a beta of 1.22. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.26 and a quick ratio of 0.30. The business has a fifty day moving average price of $80.58 and a two-hundred day moving average price of $82.34.

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 given a dividend of $0.75 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) is currently 44.91%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PFG. Piper Sandler raised 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. Barclays lifted their price objective on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods lifted their price objective on Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 12th. BMO Capital Markets initiated coverage on 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. Finally, Morgan Stanley restated an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus 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.