Aviva PLC Buys 17,536 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Aviva PLC lifted its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 14.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 139,485 shares of the company's stock after acquiring an additional 17,536 shares during the period. Aviva PLC owned approximately 0.06% of Principal Financial Group worth $10,798,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of PFG. Geode Capital Management LLC increased its holdings in Principal Financial Group by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company's stock valued at $422,074,000 after buying an additional 52,410 shares during the period. Norges Bank bought a new position in Principal Financial Group in the fourth quarter valued at approximately $217,021,000. JPMorgan Chase & Co. raised its position in Principal Financial Group by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company's stock valued at $211,534,000 after purchasing an additional 118,722 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Principal Financial Group by 3.2% during 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 last quarter. Finally, Amundi boosted its holdings in shares of Principal Financial Group by 24.1% in the 4th quarter. Amundi now owns 1,359,779 shares of the company's stock valued at $106,511,000 after purchasing an additional 264,383 shares in the last quarter. 75.08% of the stock is owned by institutional investors.

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Analyst Ratings Changes

A number of research firms have issued reports on PFG. Keefe, Bruyette & Woods lifted their target price on Principal Financial Group from $90.00 to $92.00 and gave the company a "market perform" rating in a research report on Wednesday, February 12th. Morgan Stanley decreased their price target on shares of Principal Financial Group from $77.00 to $65.00 and set an "underweight" rating on the stock in a report on Thursday. Wells Fargo & Company dropped their price objective on shares of 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 upped their price target on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Finally, BMO Capital Markets started coverage on 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, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $84.69.

Principal Financial Group Trading Up 2.1 %

Shares of NYSE:PFG traded up $1.53 during trading on Monday, reaching $74.14. The stock had a trading volume of 264,931 shares, compared to its average volume of 1,253,147. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.98. The firm's fifty day moving average is $82.79 and its 200 day moving average is $83.06. The stock has a market cap of $16.68 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 0.76 and a beta of 1.01. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.05%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Wednesday, March 12th. Principal Financial Group's payout ratio is currently 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.