Sagespring Wealth Partners LLC Takes Position in Principal Financial Group, Inc. (NYSE:PFG)

Sagespring Wealth Partners LLC purchased a new position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,599 shares of the company's stock, valued at approximately $279,000.

A number of other large investors have also made changes to their positions in the business. Harbor Capital Advisors Inc. grew its stake in Principal Financial Group by 2.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company's stock worth $404,000 after buying an additional 132 shares during the last quarter. Leavell Investment Management Inc. boosted its holdings in Principal Financial Group by 5.4% in the fourth quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company's stock worth $208,000 after acquiring an additional 138 shares in the last quarter. CENTRAL TRUST Co grew its stake in shares of Principal Financial Group by 9.6% during the fourth quarter. CENTRAL TRUST Co now owns 1,730 shares of the company's stock worth $134,000 after acquiring an additional 151 shares during the last quarter. Cidel Asset Management Inc. increased its holdings in shares of Principal Financial Group by 6.3% during the fourth quarter. Cidel Asset Management Inc. now owns 2,636 shares of the company's stock valued at $204,000 after acquiring an additional 156 shares in the last quarter. Finally, Hartford Funds Management Co LLC raised its position in shares of Principal Financial Group by 1.5% in the 4th quarter. Hartford Funds Management Co LLC now owns 11,241 shares of the company's stock valued at $870,000 after purchasing an additional 161 shares during the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

Shares of NYSE PFG traded up $2.59 during midday trading on Tuesday, reaching $72.85. 1,848,829 shares of the stock were exchanged, compared to its average volume of 1,282,721. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The firm has a 50-day simple moving average of $81.21 and a two-hundred day simple moving average of $82.42. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $91.98. The firm has a market cap of $16.39 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 0.76 and a beta of 1.01.

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 issued a $0.75 dividend. 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 dividend on an annualized basis and a yield of 4.12%. Principal Financial Group's payout ratio is presently 44.91%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PFG. JPMorgan Chase & Co. raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and dropped their target price for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. UBS Group boosted their price objective on shares of Principal Financial Group from $87.00 to $93.00 and gave the company a "neutral" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their target price on Principal Financial Group from $90.00 to $92.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 12th. BMO Capital Markets began coverage on Principal Financial Group in a research note on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price target on the stock. Finally, Piper Sandler raised their price objective on Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Four 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Principal Financial Group has an average rating of "Hold" and a consensus target price of $84.69.

Principal Financial Group Company 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.