Argentarii LLC Buys New Position in Principal Financial Group, Inc. (NYSE:PFG)

Argentarii LLC acquired a new stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,280 shares of the company's stock, valued at approximately $641,000.

Several other hedge funds also recently added to or reduced their stakes in PFG. Peterson Financial Group Inc. acquired a new position in shares of Principal Financial Group in the 3rd quarter valued at $33,000. BankPlus Trust Department purchased a new stake in Principal Financial Group in the 4th quarter valued at about $33,000. Truvestments Capital LLC acquired a new position in Principal Financial Group in the third quarter valued at about $43,000. Prospera Private Wealth LLC purchased a new position in Principal Financial Group during the third quarter worth about $45,000. Finally, Sugarloaf Wealth Management LLC increased its position in shares of Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock valued at $43,000 after acquiring an additional 195 shares during the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Down 1.8 %

NYSE:PFG traded down $1.49 during mid-day trading on Thursday, hitting $80.54. The stock had a trading volume of 1,258,390 shares, compared to its average volume of 1,572,144. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.97. The stock has a 50-day simple moving average of $82.90 and a two-hundred day simple moving average of $83.34. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $18.17 billion, a PE ratio of 12.06, a PEG ratio of 0.76 and a beta of 1.17.

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Principal Financial Group Increases Dividend

The firm 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 boost from Principal Financial Group's previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Wednesday, March 12th. Principal Financial Group's dividend payout ratio is currently 44.91%.

Wall Street Analyst Weigh In

PFG has been the topic of several recent analyst reports. BMO Capital Markets began coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price objective on the stock. Royal Bank of Canada restated a "sector perform" rating and set a $91.00 price target on shares of Principal Financial Group in a research note on Thursday, January 16th. Barclays lifted their price objective on Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a research note 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 note on Monday, February 10th. Finally, Wells Fargo & Company lifted their target price on Principal Financial Group from $69.00 to $74.00 and gave the company an "underweight" rating in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Principal Financial Group currently has an average rating of "Hold" and an average price target of $85.92.

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.