Atria Investments Inc purchased a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,929 shares of the company's stock, valued at approximately $304,000.
A number of other large investors have also made changes to their positions in PFG. KBC Group NV grew 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 valued at $22,555,000 after acquiring an additional 232,915 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Principal Financial Group by 85.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company's stock valued at $40,041,000 after acquiring an additional 215,045 shares during the period. Bank of Montreal Can grew its stake 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 valued at $43,367,000 after acquiring an additional 146,473 shares during the period. AustralianSuper Pty Ltd grew its stake in shares of Principal Financial Group by 23.2% during the 4th quarter. AustralianSuper Pty Ltd now owns 665,410 shares of the company's stock valued at $51,509,000 after acquiring an additional 125,198 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Principal Financial Group by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company's stock valued at $211,534,000 after acquiring an additional 118,722 shares during the period. 75.08% of the stock is currently owned by institutional investors.
Principal Financial Group Stock Down 1.0 %
NYSE PFG traded down $0.87 during trading on Friday, hitting $83.26. The company's stock had a trading volume of 2,518,773 shares, compared to its average volume of 1,136,362. 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, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.98. The company has a market cap of $18.78 billion, a PE ratio of 12.46, a P/E/G ratio of 0.76 and a beta of 1.17. The business's 50 day simple moving average is $83.51 and its 200-day simple moving average is $83.43.
Principal Financial Group Increases Dividend
The company 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 dividend of $0.75 per share. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.60%. Principal Financial Group's payout ratio is 44.91%.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on PFG shares. Barclays boosted their price target on Principal Financial Group from $77.00 to $80.00 and gave the stock an "underweight" rating in a report on Friday, February 7th. Royal Bank of Canada restated a "sector perform" rating and set a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. Morgan Stanley reaffirmed an "underweight" rating and issued a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Wells Fargo & Company upped their price objective 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. Finally, Piper Sandler upped their price objective on Principal Financial Group from $90.00 to $93.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. 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 data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $85.92.
View Our Latest Stock Report on Principal Financial Group
Principal Financial Group Company Profile
(
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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