LPL Financial LLC Has $8.26 Million Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

LPL Financial LLC raised its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 106,747 shares of the company's stock after acquiring an additional 4,478 shares during the quarter. LPL Financial LLC's holdings in Principal Financial Group were worth $8,263,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PFG. JPMorgan Chase & Co. raised its position 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 period. Charles Schwab Investment Management Inc. raised its holdings in 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 purchasing an additional 44,818 shares during the period. Amundi boosted 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 purchasing an additional 264,383 shares in the last quarter. Barclays PLC grew its holdings in shares of Principal Financial Group by 12.3% in the 3rd quarter. Barclays PLC now owns 806,672 shares of the company's stock valued at $69,293,000 after buying an additional 88,179 shares during the period. Finally, AustralianSuper Pty Ltd increased its position in shares of Principal Financial Group by 23.2% in the 4th quarter. AustralianSuper Pty Ltd now owns 665,410 shares of the company's stock valued at $51,509,000 after buying an additional 125,198 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 Down 6.9 %

PFG stock traded down $5.31 during mid-day trading on Thursday, reaching $71.96. The company had a trading volume of 2,040,901 shares, compared to its average volume of 1,252,339. The company has a market capitalization of $16.23 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.98. The stock has a 50 day simple moving average of $82.95 and a two-hundred day simple moving average of $83.16. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were paid a $0.75 dividend. The ex-dividend date was Wednesday, March 12th. 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 4.17%. Principal Financial Group's dividend payout ratio (DPR) is currently 44.91%.

Analysts Set New Price Targets

A number of research firms have issued reports on PFG. Wells Fargo & Company decreased their target price on Principal Financial Group from $74.00 to $68.00 and set an "underweight" rating for the company in a research note on Thursday. Piper Sandler boosted their price objective on Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Royal Bank of Canada restated a "sector perform" rating and set a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th. 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 report on Friday, February 7th. Finally, BMO Capital Markets started coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price objective on the stock. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned 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 $85.07.

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.