Lecap Asset Management Ltd. Boosts Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Lecap Asset Management Ltd. raised its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 135.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,469 shares of the company's stock after buying an additional 12,933 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Principal Financial Group were worth $1,739,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PFG. Peterson Financial Group Inc. acquired a new stake in Principal Financial Group in the third quarter valued at $33,000. Truvestments Capital LLC acquired a new position in shares of Principal Financial Group during the 3rd quarter worth approximately $43,000. Prospera Private Wealth LLC acquired a new position in Principal Financial Group in the 3rd quarter valued at $45,000. Sugarloaf Wealth Management LLC raised its stake in Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock valued at $43,000 after purchasing an additional 195 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Principal Financial Group during the 3rd quarter worth approximately $50,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Stock Up 1.8 %

PFG stock traded up $1.55 on Tuesday, hitting $85.93. 913,469 shares of the company's stock were exchanged, compared to its average volume of 1,461,334. The firm has a 50 day moving average price of $80.02 and a two-hundred day moving average price of $82.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97. The stock has a market cap of $19.65 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 0.79 and a beta of 1.22.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be paid a $0.75 dividend. 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 3.49%. The ex-dividend date is Wednesday, March 12th. Principal Financial Group's payout ratio is currently 43.71%.

Analysts Set New Price Targets

PFG has been the subject of several research analyst reports. Piper Sandler upped their price target on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an "overweight" rating in a report on Monday. BMO Capital Markets initiated coverage on Principal Financial Group in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 target price for the company. Royal Bank of Canada restated a "sector perform" rating and set a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and cut their target price for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Finally, Barclays upped their price target on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a research report on Friday. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $85.38.

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.