Russell Investments Group Ltd. Increases Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Russell Investments Group Ltd. lifted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 149,743 shares of the company's stock after buying an additional 7,024 shares during the quarter. Russell Investments Group Ltd. owned about 0.07% of Principal Financial Group worth $11,589,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Curio Wealth LLC acquired a new stake in shares of Principal Financial Group in the 4th quarter valued at about $29,000. BankPlus Trust Department bought a new position in Principal Financial Group in the fourth quarter worth approximately $33,000. Sugarloaf Wealth Management LLC grew its stake in Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock valued at $43,000 after acquiring an additional 195 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Principal Financial Group during the fourth quarter valued at approximately $46,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of Principal Financial Group during the fourth quarter worth approximately $54,000. Institutional investors own 75.08% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on PFG. Piper Sandler boosted their price target on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. UBS Group raised their price target on shares of Principal Financial Group from $87.00 to $93.00 and gave the company a "neutral" rating in a research report on Wednesday, April 2nd. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price target on the stock. Barclays decreased their price objective on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. Finally, Morgan Stanley cut their target price on Principal Financial Group from $77.00 to $65.00 and set an "underweight" rating on the stock in a research note on Thursday, April 10th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $84.69.

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Principal Financial Group Stock Down 0.1 %

NYSE:PFG traded down $0.10 on Wednesday, reaching $72.99. 271,463 shares of the stock traded hands, compared to its average volume of 1,559,364. 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 market capitalization of $16.42 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.97. The company's fifty day simple moving average is $82.51 and its 200 day simple moving average is $82.90.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 4.11%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date was Wednesday, March 12th. Principal Financial Group's dividend payout ratio (DPR) is currently 44.91%.

Principal Financial Group 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.