BBR Partners LLC Acquires 11,052 Shares of Principal Financial Group, Inc. (NYSE:PFG)

BBR Partners LLC increased its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 100.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,052 shares of the company's stock after acquiring an additional 11,052 shares during the quarter. BBR Partners LLC's holdings in Principal Financial Group were worth $1,707,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PFG. KBC Group NV grew its position in Principal Financial Group by 398.4% in the 4th quarter. KBC Group NV now owns 291,379 shares of the company's stock valued at $22,555,000 after purchasing an additional 232,915 shares during the period. Massachusetts Financial Services Co. MA raised its position 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. Raymond James Financial Inc. bought a new position in Principal Financial Group during the 4th quarter valued at $15,821,000. Bank of Montreal Can boosted its holdings in 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 acquiring an additional 146,473 shares during the last quarter. Finally, Mizuho Securities USA LLC grew its stake in shares of Principal Financial Group by 818.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company's stock worth $13,112,000 after acquiring an additional 136,021 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.

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Principal Financial Group Stock Performance

Principal Financial Group stock traded down $0.80 during midday trading on Tuesday, reaching $82.88. The stock had a trading volume of 1,879,615 shares, compared to its average volume of 1,573,361. The firm has a market capitalization of $18.70 billion, a PE ratio of 12.41, a P/E/G ratio of 0.76 and a beta of 1.17. 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 0.29 and a debt-to-equity ratio of 0.36. The firm's 50-day moving average price is $82.69 and its 200 day moving average price is $83.32.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be paid 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 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Wednesday, March 12th. Principal Financial Group's dividend payout ratio is presently 44.91%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price target on the stock. Morgan Stanley reissued an "underweight" rating and set a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. JPMorgan Chase & Co. raised Principal Financial Group from a "neutral" rating to an "overweight" rating and reduced their target price for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $91.00 price target on shares of Principal Financial Group in a research report on Thursday, January 16th. Finally, Piper Sandler boosted 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. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target 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.