Mirae Asset Global Investments Co. Ltd. Has $1.83 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 29.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,533 shares of the company's stock after acquiring an additional 5,350 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Principal Financial Group were worth $1,827,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. increased its position in Principal Financial Group by 2.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company's stock worth $404,000 after acquiring an additional 132 shares during the period. Prime Capital Investment Advisors LLC increased its position in Principal Financial Group by 2.3% during the third quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company's stock worth $546,000 after acquiring an additional 142 shares during the period. Empirical Finance LLC increased its position in Principal Financial Group by 1.8% during the third quarter. Empirical Finance LLC now owns 7,875 shares of the company's stock worth $676,000 after acquiring an additional 142 shares during the period. Palisade Asset Management LLC increased its position in Principal Financial Group by 2.1% during the third quarter. Palisade Asset Management LLC now owns 6,946 shares of the company's stock worth $597,000 after acquiring an additional 146 shares during the period. Finally, CENTRAL TRUST Co increased its position in Principal Financial Group by 9.6% during the fourth quarter. CENTRAL TRUST Co now owns 1,730 shares of the company's stock worth $134,000 after acquiring an additional 151 shares during the period. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PFG has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an "overweight" rating in a research report on Monday. Royal Bank of Canada reaffirmed 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. Wells Fargo & Company lowered their price target on shares of Principal Financial Group from $75.00 to $69.00 and set an "underweight" rating on the stock in a report on Tuesday, January 14th. Keefe, Bruyette & Woods boosted their price target on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a "market perform" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and lowered their target price for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $85.54.

Principal Financial Group Price Performance

NYSE PFG traded down $1.30 on Friday, hitting $85.65. 1,669,765 shares of the company were exchanged, compared to its average volume of 1,510,735. The firm has a 50 day moving average of $80.10 and a two-hundred day moving average of $82.12. The company has a market cap of $19.59 billion, a P/E ratio of 12.82, a P/E/G ratio of 0.79 and a beta of 1.22. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.97.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given a dividend of $0.75 per share. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $3.00 annualized dividend and a yield of 3.50%. Principal Financial Group's dividend payout ratio is 43.71%.

Principal Financial Group Company 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.