Principal Financial Group, Inc. (NYSE:PFG) Shares Bought by Sterling Capital Management LLC

Sterling Capital Management LLC grew its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 54.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,485 shares of the company's stock after purchasing an additional 4,731 shares during the period. Sterling Capital Management LLC's holdings in Principal Financial Group were worth $1,044,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Principal Financial Group during the fourth quarter worth about $217,021,000. Amundi increased its stake in Principal Financial Group by 24.1% during the 4th quarter. Amundi now owns 1,359,779 shares of the company's stock worth $106,511,000 after buying an additional 264,383 shares during the period. KBC Group NV lifted its holdings in Principal Financial Group by 398.4% during the 4th quarter. KBC Group NV now owns 291,379 shares of the company's stock worth $22,555,000 after buying an additional 232,915 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Principal Financial Group during the fourth quarter worth $15,821,000. Finally, Quantbot Technologies LP boosted its holdings in Principal Financial Group by 2,064.3% in the fourth quarter. Quantbot Technologies LP now owns 148,299 shares of the company's stock valued at $11,480,000 after purchasing an additional 141,447 shares during the period. 75.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PFG shares. Keefe, Bruyette & Woods lifted their price objective on Principal Financial Group from $90.00 to $92.00 and gave the company a "market perform" rating in a research note on Wednesday, February 12th. Royal Bank of Canada reiterated a "sector perform" rating and set a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. UBS Group lifted their price objective on shares of Principal Financial Group from $87.00 to $93.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 2nd. Piper Sandler lifted their price target on Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and dropped their target price for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $84.69.

Principal Financial Group Stock Performance

PFG stock traded down $1.60 during trading on Monday, hitting $70.54. The company had a trading volume of 168,519 shares, compared to its average volume of 1,271,494. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $91.98. The firm has a 50-day moving average price of $81.78 and a 200-day moving average price of $82.61. 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 market cap of $15.87 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were issued a dividend of $0.75 per share. The ex-dividend date was Wednesday, March 12th. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 4.25%. Principal Financial Group's dividend payout ratio (DPR) is currently 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.