Principal Financial Group, Inc. (NYSE:PFG) Shares Bought by Mizuho Securities USA LLC

Mizuho Securities USA LLC grew its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 44.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,944 shares of the company's stock after buying an additional 6,128 shares during the quarter. Mizuho Securities USA LLC's holdings in Principal Financial Group were worth $1,544,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Principal Financial Group by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,403,689 shares of the company's stock valued at $120,577,000 after acquiring an additional 18,801 shares during the period. Cerity Partners LLC grew its holdings in Principal Financial Group by 12.3% during the 3rd quarter. Cerity Partners LLC now owns 30,042 shares of the company's stock valued at $2,581,000 after purchasing an additional 3,281 shares during the last quarter. Larson Financial Group LLC raised its position in Principal Financial Group by 132.8% in the 3rd quarter. Larson Financial Group LLC now owns 675 shares of the company's stock worth $58,000 after purchasing an additional 385 shares during the period. Daiwa Securities Group Inc. lifted its stake in Principal Financial Group by 1.7% in the third quarter. Daiwa Securities Group Inc. now owns 27,523 shares of the company's stock worth $2,364,000 after purchasing an additional 457 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Principal Financial Group by 7.8% during the third quarter. Brown Brothers Harriman & Co. now owns 3,006 shares of the company's stock valued at $258,000 after buying an additional 218 shares during the period. Institutional investors own 75.08% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PFG. Wells Fargo & Company raised their target price on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an "underweight" rating in a research report on Wednesday, February 19th. Piper Sandler raised their price objective on Principal Financial Group from $90.00 to $93.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Morgan Stanley reiterated an "underweight" rating and issued a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Royal Bank of Canada restated a "sector perform" rating and set a $91.00 price target on shares of Principal Financial Group in a research note on Thursday, January 16th. Finally, BMO Capital Markets assumed coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price objective for the company. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Principal Financial Group presently has an average rating of "Hold" and a consensus price target of $85.92.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock traded down $2.02 during mid-day trading on Friday, reaching $83.06. 1,357,092 shares of the stock traded hands, compared to its average volume of 1,220,353. 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 business has a 50-day moving average of $84.15 and a 200 day moving average of $83.66. The stock has a market capitalization of $18.74 billion, a PE ratio of 12.43, a PEG ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.98.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were given a $0.75 dividend. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date was Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.61%. Principal Financial Group's payout ratio is presently 44.91%.

About Principal Financial Group

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.