OLD Mission Capital LLC bought a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,808 shares of the company's stock, valued at approximately $682,000.
A number of other hedge funds and other institutional investors have also modified their holdings of PFG. Curio Wealth LLC acquired a new stake in Principal Financial Group during the 4th quarter valued at approximately $29,000. BankPlus Trust Department purchased a new position in shares of Principal Financial Group during the 4th quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC increased its stake in shares of Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock worth $43,000 after buying an additional 195 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Principal Financial Group during the fourth quarter worth about $46,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of Principal Financial Group in the 4th quarter worth approximately $54,000. 75.08% of the stock is owned by hedge funds and other institutional investors.
Principal Financial Group Trading Down 7.1 %
Shares of NYSE:PFG traded down $5.45 during midday trading on Thursday, reaching $71.82. The company had a trading volume of 327,438 shares, compared to its average volume of 1,244,014. The company has a fifty day simple moving average of $83.13 and a two-hundred day simple moving average of $83.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The firm has a market cap of $16.20 billion, a price-to-earnings ratio of 10.77, 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 $68.39 and a 1-year high of $91.98.
Principal Financial Group Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.18%. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.73. Principal Financial Group's payout ratio is currently 44.91%.
Analysts Set New Price Targets
A number of analysts have recently weighed in on PFG shares. Keefe, Bruyette & Woods increased their price target on Principal Financial Group from $90.00 to $92.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. upgraded Principal Financial Group from a "neutral" rating to an "overweight" rating and cut their target price for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. Barclays upped their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an "underweight" rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company increased their price objective on Principal Financial Group from $69.00 to $74.00 and gave the stock an "underweight" rating in a report on Wednesday, February 19th. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $86.57.
Check Out Our Latest Research Report on PFG
Principal Financial Group Company Profile
(
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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