AustralianSuper Pty Ltd Acquires 125,198 Shares of Principal Financial Group, Inc. (NYSE:PFG)

AustralianSuper Pty Ltd grew its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 23.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 665,410 shares of the company's stock after acquiring an additional 125,198 shares during the period. AustralianSuper Pty Ltd owned 0.29% of Principal Financial Group worth $51,509,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of PFG. V Square Quantitative Management LLC increased its position in shares of Principal Financial Group by 6.4% in the 4th quarter. V Square Quantitative Management LLC now owns 8,185 shares of the company's stock valued at $634,000 after buying an additional 493 shares in the last quarter. IMS Capital Management acquired a new stake in Principal Financial Group during the fourth quarter worth approximately $224,000. Asset Management One Co. Ltd. boosted its holdings in shares of Principal Financial Group by 0.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 109,548 shares of the company's stock valued at $8,513,000 after purchasing an additional 448 shares in the last quarter. Leavell Investment Management Inc. increased its position in Principal Financial Group by 5.4% during the 4th quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company's stock worth $208,000 after purchasing an additional 138 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in shares of Principal Financial Group during the fourth quarter valued at $98,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Stock Down 0.5 %

Shares of NYSE PFG traded down $0.41 during trading on Wednesday, reaching $86.19. The company had a trading volume of 1,191,590 shares, compared to its average volume of 1,490,137. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97. The company has a quick ratio of 0.30, a current ratio of 0.26 and a debt-to-equity ratio of 0.36. The business's 50-day moving average is $80.31 and its 200 day moving average is $82.28. The stock has a market cap of $19.71 billion, a PE ratio of 12.90, a P/E/G ratio of 0.75 and a beta of 1.22.

Principal Financial Group Increases Dividend

The firm also recently disclosed 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. 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 annualized dividend and a dividend yield of 3.48%. Principal Financial Group's dividend payout ratio (DPR) is 43.71%.

Analysts Set New Price Targets

Several analysts have recently commented on PFG shares. Keefe, Bruyette & Woods raised their target price on Principal Financial Group from $90.00 to $92.00 and gave the company a "market perform" rating in a research note on Wednesday, February 12th. Royal Bank of Canada restated a "sector perform" rating and issued a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. BMO Capital Markets assumed coverage on Principal Financial Group in a research report on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price target for the company. Piper Sandler boosted 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. Finally, JPMorgan Chase & Co. raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and cut their price objective for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Principal Financial Group currently 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.