Entropy Technologies LP Raises Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Entropy Technologies LP increased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 630.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,014 shares of the company's stock after buying an additional 21,589 shares during the quarter. Entropy Technologies LP's holdings in Principal Financial Group were worth $1,936,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PFG. Peterson Financial Group Inc. bought a new stake in Principal Financial Group during the third quarter worth $33,000. Truvestments Capital LLC bought a new stake in Principal Financial Group during the third quarter worth $43,000. Sugarloaf Wealth Management LLC boosted its position in Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock worth $43,000 after purchasing an additional 195 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Principal Financial Group in the third quarter worth $45,000. Finally, Golden State Wealth Management LLC purchased a new position in Principal Financial Group in the fourth quarter worth $46,000. Institutional investors own 75.08% of the company's stock.

Principal Financial Group Price Performance

NYSE PFG traded up $2.01 during trading on Thursday, reaching $86.95. The company's stock had a trading volume of 1,254,707 shares, compared to its average volume of 1,505,252. The stock has a market capitalization of $19.89 billion, a PE ratio of 13.02, a P/E/G ratio of 0.79 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a fifty day moving average of $80.04 and a 200 day moving average of $82.09. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.97.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be paid a $0.75 dividend. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Wednesday, March 12th. Principal Financial Group's dividend payout ratio is currently 43.71%.

Analysts Set New Price Targets

Several research analysts have weighed in on PFG shares. 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. Morgan Stanley reissued 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. JPMorgan Chase & Co. raised Principal Financial Group from a "neutral" rating to an "overweight" rating and cut their price objective for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price target on Principal Financial Group from $90.00 to $92.00 and gave the company a "market perform" rating in a research report on Wednesday. Finally, Barclays upped their price target on Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a research report on Friday, February 7th. Four equities 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 assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $85.54.

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.