Amundi raised its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 24.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,359,779 shares of the company's stock after buying an additional 264,383 shares during the period. Amundi owned about 0.59% of Principal Financial Group worth $106,511,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the business. Metis Global Partners LLC boosted its stake in shares of Principal Financial Group by 5.0% during the 3rd quarter. Metis Global Partners LLC now owns 11,230 shares of the company's stock worth $965,000 after acquiring an additional 533 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of Principal Financial Group by 66.2% in the third quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company's stock worth $2,137,000 after acquiring an additional 9,933 shares in the last quarter. Legacy Financial Group LLC purchased a new stake in shares of Principal Financial Group in the fourth quarter valued at $771,000. Columbus Macro LLC lifted its holdings in shares of Principal Financial Group by 46.7% in the fourth quarter. Columbus Macro LLC now owns 25,653 shares of the company's stock valued at $1,986,000 after purchasing an additional 8,169 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of Principal Financial Group by 358.7% during the third quarter. Empowered Funds LLC now owns 16,328 shares of the company's stock valued at $1,403,000 after buying an additional 12,768 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on PFG. Piper Sandler raised their price objective 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. Wells Fargo & Company raised their price target on Principal Financial Group from $69.00 to $74.00 and gave the stock an "underweight" rating in a research note on Wednesday, February 19th. Royal Bank of Canada reissued a "sector perform" rating and issued a $91.00 target price on shares of Principal Financial Group in a research report on Thursday, January 16th. JPMorgan Chase & Co. raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and lowered their target price for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their price target on Principal Financial Group from $90.00 to $92.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 12th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Principal Financial Group currently has a consensus rating of "Hold" and an average target price of $85.92.
View Our Latest Research Report on PFG
Principal Financial Group Stock Performance
Shares of Principal Financial Group stock traded up $0.12 during midday trading on Wednesday, hitting $82.25. The company had a trading volume of 829,560 shares, compared to its average volume of 1,556,768. The stock has a market cap of $18.55 billion, a PE ratio of 12.31, a P/E/G 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 $91.97. The business's 50 day simple moving average is $82.80 and its two-hundred day simple moving average is $83.34. 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 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. The ex-dividend date of this dividend is Wednesday, March 12th. This is a boost from Principal Financial Group's previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.65%. Principal Financial Group's payout ratio is currently 44.91%.
Principal Financial Group Profile
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Free Report)
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.
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