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

Victory Capital Management Inc. grew its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 410,926 shares of the company's stock after purchasing an additional 11,187 shares during the period. Victory Capital Management Inc. owned approximately 0.18% of Principal Financial Group worth $31,810,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Peterson Financial Group Inc. acquired a new position in Principal Financial Group in the 3rd quarter valued at about $33,000. BankPlus Trust Department acquired a new position in shares of Principal Financial Group in the fourth quarter valued at approximately $33,000. Truvestments Capital LLC purchased a new stake in Principal Financial Group during the 3rd quarter worth approximately $43,000. Prospera Private Wealth LLC purchased a new stake in Principal Financial Group during the 3rd quarter worth approximately $45,000. Finally, Sugarloaf Wealth Management LLC lifted its holdings in Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock worth $43,000 after buying an additional 195 shares in the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on PFG shares. Barclays boosted their price target on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an "underweight" rating in a research note on Friday, February 7th. BMO Capital Markets initiated coverage on Principal Financial Group in a research note on Thursday, January 23rd. They set a "market perform" rating and a $93.00 target price for the company. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $91.00 price target on shares of Principal Financial Group in a research report on Thursday, January 16th. JPMorgan Chase & Co. raised Principal Financial Group from a "neutral" rating to an "overweight" rating and lowered their price objective for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Finally, Piper Sandler raised their target price on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $85.92.

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Principal Financial Group Stock Performance

PFG traded down $0.85 during trading on Wednesday, hitting $82.03. The stock had a trading volume of 1,829,930 shares, compared to its average volume of 1,578,820. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.97. The firm has a market capitalization of $18.50 billion, a P/E ratio of 12.28, a PEG ratio of 0.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The company's 50-day moving average price is $82.90 and its 200 day moving average price is $83.34.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.73. Principal Financial Group's payout ratio is currently 44.91%.

Principal Financial Group 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.