Headlands Technologies LLC grew its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 43.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,398 shares of the company's stock after purchasing an additional 4,386 shares during the period. Headlands Technologies LLC's holdings in Principal Financial Group were worth $1,115,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of PFG. Geode Capital Management LLC boosted its position 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 valued at $422,074,000 after buying an additional 52,410 shares during the last quarter. Norges Bank purchased a new stake in shares of Principal Financial Group in the 4th quarter valued at $217,021,000. JPMorgan Chase & Co. boosted its holdings in shares of 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 acquiring an additional 118,722 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Principal Financial Group by 3.2% in the fourth 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 during the period. Finally, Amundi raised its holdings 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 purchasing an additional 264,383 shares during the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
PFG has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of 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. Piper Sandler upped their price objective 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. 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 target price on the stock. UBS Group lifted their price target on Principal Financial Group from $87.00 to $93.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Morgan Stanley reiterated an "underweight" rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $86.57.
Get Our Latest Report on PFG
Principal Financial Group Price Performance
Shares of Principal Financial Group stock traded down $6.87 on Thursday, hitting $79.32. 1,412,282 shares of the company were exchanged, compared to its average volume of 1,221,339. 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 company has a 50-day moving average price of $84.30 and a 200 day moving average price of $83.73. The stock has a market capitalization of $17.89 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.98.
Principal Financial Group Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.75 per share. The ex-dividend date was Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.78%. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.73. Principal Financial Group's payout ratio is 44.91%.
About Principal Financial Group
(
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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