Principal Financial Group, Inc. (NYSE:PFG) Shares Purchased by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund grew its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 53.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,695 shares of the company's stock after buying an additional 3,387 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Principal Financial Group were worth $750,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of Principal Financial Group by 5.1% in the 3rd 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Principal Financial Group by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,403,689 shares of the company's stock valued at $120,577,000 after purchasing an additional 18,801 shares during the last quarter. Barclays PLC raised its position in shares of Principal Financial Group by 12.3% in the 3rd quarter. Barclays PLC now owns 806,672 shares of the company's stock valued at $69,293,000 after purchasing an additional 88,179 shares during the last quarter. AustralianSuper Pty Ltd raised its position in shares of Principal Financial Group by 23.2% in the 4th quarter. AustralianSuper Pty Ltd now owns 665,410 shares of the company's stock valued at $51,509,000 after purchasing an additional 125,198 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Principal Financial Group by 41.0% in the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company's stock valued at $43,367,000 after purchasing an additional 146,473 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Price Performance

Principal Financial Group stock traded up $0.37 during trading on Thursday, reaching $86.56. The company had a trading volume of 2,081,760 shares, compared to its average volume of 1,508,462. The firm's 50-day simple moving average is $80.43 and its 200 day simple moving average is $82.31. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.97. The firm has a market capitalization of $19.80 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 0.76 and a beta of 1.22. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.26.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a boost from Principal Financial Group's previous quarterly dividend of $0.73. Principal Financial Group's payout ratio is 44.91%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PFG. Royal Bank of Canada reissued a "sector perform" rating and set a $91.00 price target on shares of Principal Financial Group in a research report on Thursday, January 16th. Piper Sandler raised their price target on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Barclays raised their price target 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. Keefe, Bruyette & Woods raised their price target on shares of 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. Finally, JPMorgan Chase & Co. raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and reduced their price target for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, six have issued 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, the stock has a consensus rating of "Hold" and an average price target of $85.92.

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.