Principal Financial Group, Inc. (NYSE:PFG) Shares Acquired by FIL Ltd

FIL Ltd raised its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 99.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,709 shares of the company's stock after buying an additional 5,836 shares during the period. FIL Ltd's holdings in Principal Financial Group were worth $906,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC increased its stake in Principal Financial Group by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company's stock worth $422,074,000 after purchasing an additional 52,410 shares during the period. Norges Bank bought a new stake in Principal Financial Group during the 4th quarter valued at about $217,021,000. JPMorgan Chase & Co. boosted its position in Principal Financial Group by 5.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company's stock valued at $211,534,000 after buying an additional 118,722 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Principal Financial Group by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,448,507 shares of the company's stock worth $112,129,000 after acquiring an additional 44,818 shares in the last quarter. Finally, Amundi increased its position in shares of Principal Financial Group by 24.1% during the fourth quarter. Amundi now owns 1,359,779 shares of the company's stock worth $106,511,000 after acquiring an additional 264,383 shares during the period. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

PFG stock traded up $0.50 during trading on Friday, reaching $72.14. The company had a trading volume of 1,634,834 shares, compared to its average volume of 1,272,974. The company has a market cap of $16.23 billion, a price-to-earnings ratio of 10.80, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $91.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The firm has a 50-day simple moving average of $82.05 and a 200-day simple moving average of $82.73.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.75 per share. The ex-dividend date was Wednesday, March 12th. 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 dividend yield of 4.16%. Principal Financial Group's payout ratio is 44.91%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PFG. UBS Group increased their price objective on Principal Financial Group from $87.00 to $93.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. upgraded Principal Financial Group from a "neutral" rating to an "overweight" rating and cut their price target for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price objective on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 12th. Royal Bank of Canada reissued a "sector perform" rating and set a $91.00 target price on shares of Principal Financial Group in a research report on Thursday, January 16th. Finally, Piper Sandler upped their price target on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a sell rating, six have assigned 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, Principal Financial Group has an average rating of "Hold" and an average target price of $84.69.

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.