Sciencast Management LP Purchases Shares of 25,919 Principal Financial Group, Inc. (NYSE:PFG)

Sciencast Management LP bought a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 25,919 shares of the company's stock, valued at approximately $2,006,000.

Several other large investors have also modified their holdings of PFG. Curio Wealth LLC purchased a new position in Principal Financial Group during the fourth quarter valued at approximately $29,000. BankPlus Trust Department purchased a new position in shares of Principal Financial Group in the fourth quarter worth $33,000. Truvestments Capital LLC acquired a new stake in Principal Financial Group during the 3rd quarter worth about $43,000. Sugarloaf Wealth Management LLC lifted its holdings in shares of Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock worth $43,000 after purchasing an additional 195 shares during the period. Finally, Prospera Private Wealth LLC acquired a new stake in Principal Financial Group during the 3rd quarter valued at approximately $45,000. Institutional investors own 75.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PFG. Piper Sandler upped their target price on Principal Financial Group from $90.00 to $93.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. JPMorgan Chase & Co. raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and lowered their target price for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their target price on shares of 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. Finally, Barclays increased their price target on Principal Financial Group from $77.00 to $80.00 and gave the stock an "underweight" rating in a report on Friday, February 7th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Principal Financial Group has a consensus rating of "Hold" and a consensus target price of $85.92.

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Principal Financial Group Trading Down 0.1 %

NYSE:PFG traded down $0.07 on Wednesday, reaching $85.60. The stock had a trading volume of 1,021,999 shares, compared to its average volume of 1,135,572. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.98. The company has a market cap of $19.31 billion, a price-to-earnings ratio of 12.81, a P/E/G ratio of 0.76 and a beta of 1.17. The firm's fifty day moving average is $83.94 and its two-hundred day moving average is $83.58. 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 announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given 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 3.50%. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.73. Principal Financial Group's dividend payout ratio (DPR) is 44.91%.

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.