Quantbot Technologies LP lifted its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 2,064.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,299 shares of the company's stock after purchasing an additional 141,447 shares during the quarter. Principal Financial Group accounts for 0.4% of Quantbot Technologies LP's portfolio, making the stock its 28th largest position. Quantbot Technologies LP owned about 0.06% of Principal Financial Group worth $11,480,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its stake 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 worth $211,534,000 after acquiring an additional 118,722 shares in the last quarter. Charles Schwab Investment Management Inc. raised 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 acquiring an additional 44,818 shares in the last quarter. Amundi increased its stake in shares of Principal Financial Group by 24.1% in the fourth quarter. Amundi now owns 1,359,779 shares of the company's stock valued at $106,511,000 after buying an additional 264,383 shares in the last quarter. Barclays PLC increased its stake in shares of Principal Financial Group by 12.3% in the third quarter. Barclays PLC now owns 806,672 shares of the company's stock valued at $69,293,000 after buying an additional 88,179 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its stake in shares of Principal Financial Group by 23.2% in the fourth quarter. AustralianSuper Pty Ltd now owns 665,410 shares of the company's stock valued at $51,509,000 after buying an additional 125,198 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.
Principal Financial Group Trading Down 0.8 %
PFG traded down $0.64 during midday trading on Tuesday, reaching $83.24. 976,036 shares of the company were exchanged, compared to its average volume of 1,137,263. 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, Inc. has a one year low of $72.21 and a one year high of $91.98. The stock has a market capitalization of $18.78 billion, a P/E ratio of 12.46, a PEG ratio of 0.76 and a beta of 1.17. The stock's 50-day simple moving average is $83.18 and its 200 day simple moving average is $83.41.
Principal Financial Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.75 per share. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.60%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.73. Principal Financial Group's dividend payout ratio (DPR) is 44.91%.
Analysts Set New Price Targets
PFG has been the subject of a number of research reports. Barclays raised their target price on Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a research note on Friday, February 7th. Wells Fargo & Company raised their target price on Principal Financial Group from $69.00 to $74.00 and gave the company an "underweight" rating in a research note on Wednesday, February 19th. BMO Capital Markets assumed coverage on Principal Financial Group in a report on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price target on the stock. Morgan Stanley reiterated an "underweight" rating and issued a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Finally, Piper Sandler raised their price target on Principal Financial Group from $90.00 to $93.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Principal Financial Group presently has a consensus rating of "Hold" and a consensus target price of $85.92.
Check Out Our Latest Research Report on Principal Financial Group
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.
Further Reading
Before you consider Principal Financial Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Principal Financial Group wasn't on the list.
While Principal Financial Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
