Capital Management Corp VA increased its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 14.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 115,614 shares of the company's stock after purchasing an additional 14,301 shares during the quarter. Principal Financial Group makes up approximately 1.6% of Capital Management Corp VA's investment portfolio, making the stock its 27th largest position. Capital Management Corp VA owned about 0.05% of Principal Financial Group worth $8,950,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in PFG. Metis Global Partners LLC grew its holdings in shares of Principal Financial Group by 5.0% during the third quarter. Metis Global Partners LLC now owns 11,230 shares of the company's stock worth $965,000 after buying an additional 533 shares in the last quarter. Sanctuary Advisors LLC boosted its position in Principal Financial Group by 66.2% during the third quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company's stock worth $2,137,000 after acquiring an additional 9,933 shares during the last quarter. Legacy Financial Group LLC purchased a new stake in Principal Financial Group during the 4th quarter valued at about $771,000. Columbus Macro LLC raised its holdings in Principal Financial Group by 46.7% in the 4th quarter. Columbus Macro LLC now owns 25,653 shares of the company's stock valued at $1,986,000 after acquiring an additional 8,169 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in Principal Financial Group by 358.7% in the 3rd quarter. Empowered Funds LLC now owns 16,328 shares of the company's stock worth $1,403,000 after purchasing an additional 12,768 shares in the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
PFG has been the subject of a number of analyst reports. BMO Capital Markets started coverage on Principal Financial Group in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price target for the company. Piper Sandler upped their target price on Principal Financial Group from $90.00 to $93.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Royal Bank of Canada reiterated a "sector perform" rating and set a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. JPMorgan Chase & Co. raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and lowered their price target for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Finally, Morgan Stanley reissued an "underweight" rating and issued a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $85.92.
Check Out Our Latest Research Report on Principal Financial Group
Principal Financial Group Trading Down 1.0 %
Principal Financial Group stock traded down $0.85 during midday trading on Wednesday, reaching $82.03. 1,829,930 shares of the stock traded hands, compared to its average volume of 1,578,820. The firm has a market cap of $18.50 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The company has a 50-day simple moving average of $82.80 and a two-hundred day simple moving average of $83.34. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97.
Principal Financial Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be paid a $0.75 dividend. This is a positive change 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 dividend yield of 3.66%. Principal Financial Group's dividend payout ratio (DPR) is presently 44.91%.
About Principal Financial Group
(
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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