Resona Asset Management Co. Ltd. bought a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 70,500 shares of the company's stock, valued at approximately $5,460,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PFG. Curio Wealth LLC bought a new stake in Principal Financial Group during the 4th quarter worth about $29,000. BankPlus Trust Department acquired a new stake in shares of Principal Financial Group during the fourth quarter worth $33,000. Sugarloaf Wealth Management LLC increased its stake in shares of Principal Financial Group by 53.6% in the 4th 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 last quarter. Golden State Wealth Management LLC bought a new position in shares of Principal Financial Group during the fourth quarter worth $46,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of Principal Financial Group in the 4th quarter valued at $54,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have weighed in on PFG. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price target on the stock. Piper Sandler boosted their price objective on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Barclays dropped their price target on Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a research note on Friday. JPMorgan Chase & Co. upgraded Principal Financial Group from a "neutral" rating to an "overweight" rating and cut their target price for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Finally, Morgan Stanley lowered their price objective 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. 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 company. Based on data from MarketBeat, Principal Financial Group presently has a consensus rating of "Hold" and an average target price of $84.69.
View Our Latest Stock Analysis on Principal Financial Group
Principal Financial Group Stock Performance
Principal Financial Group stock traded up $1.53 during mid-day trading on Monday, hitting $74.14. 264,931 shares of the company's stock traded hands, compared to its average volume of 1,253,134. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.98. 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 firm has a 50 day simple moving average of $82.79 and a two-hundred day simple moving average of $83.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30.
Principal Financial Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were given a dividend of $0.75 per share. This is a boost from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $3.00 annualized dividend and a yield of 4.05%. Principal Financial Group's dividend payout ratio (DPR) is presently 44.91%.
Principal Financial Group Profile
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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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