Virtu Financial LLC Invests $271,000 in Principal Financial Group, Inc. (NYSE:PFG)

Virtu Financial LLC bought a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,500 shares of the company's stock, valued at approximately $271,000.

Several other hedge funds have also made changes to their positions in the company. Curio Wealth LLC purchased a new position in Principal Financial Group during the fourth quarter valued at approximately $29,000. BankPlus Trust Department bought a new position in shares of Principal Financial Group in the 4th quarter worth $33,000. Sugarloaf Wealth Management LLC lifted its stake in shares of 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 purchasing an additional 195 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in Principal Financial Group in the fourth quarter valued at about $46,000. Finally, Whipplewood Advisors LLC bought a new position in Principal Financial Group in the fourth quarter worth about $54,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PFG has been the subject of several recent analyst reports. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and reduced their price objective for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price objective on Principal Financial Group from $90.00 to $92.00 and gave the company a "market perform" rating in a report on Wednesday, February 12th. Barclays raised their price objective on Principal Financial Group from $77.00 to $80.00 and gave the stock an "underweight" rating in a research report on Friday, February 7th. BMO Capital Markets assumed coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price target for the company. Finally, Piper Sandler raised their price target on Principal Financial Group from $90.00 to $93.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $85.92.

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Principal Financial Group Stock Performance

PFG traded up $1.31 during trading on Monday, reaching $84.37. 1,160,284 shares of the company's stock were exchanged, compared to its average volume of 1,220,114. 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, Inc. has a 1 year low of $72.21 and a 1 year high of $91.98. The company's fifty day simple moving average is $84.15 and its 200-day simple moving average is $83.69. The stock has a market capitalization of $19.03 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were given 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 dividend on an annualized basis and a yield of 3.56%. Principal Financial Group's payout ratio is currently 44.91%.

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.