WCM Investment Management LLC Acquires 3,463 Shares of Principal Financial Group, Inc. (NYSE:PFG)

WCM Investment Management LLC grew its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 112.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,544 shares of the company's stock after acquiring an additional 3,463 shares during the quarter. WCM Investment Management LLC's holdings in Principal Financial Group were worth $505,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in Principal Financial Group by 5.1% in the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company's stock worth $211,534,000 after acquiring an additional 118,722 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Principal Financial Group by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,403,689 shares of the company's stock worth $120,577,000 after acquiring an additional 18,801 shares in the last quarter. Barclays PLC boosted its holdings in Principal Financial Group by 12.3% in the third quarter. Barclays PLC now owns 806,672 shares of the company's stock worth $69,293,000 after acquiring an additional 88,179 shares in the last quarter. AustralianSuper Pty Ltd boosted its holdings in Principal Financial Group by 27.2% in the third quarter. AustralianSuper Pty Ltd now owns 540,212 shares of the company's stock worth $46,404,000 after acquiring an additional 115,569 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in Principal Financial Group by 41.0% in the third quarter. Bank of Montreal Can now owns 503,735 shares of the company's stock worth $43,367,000 after acquiring an additional 146,473 shares in the last quarter. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Stock Performance

Principal Financial Group stock traded down $1.30 during mid-day trading on Friday, reaching $85.65. 1,669,765 shares of the stock traded hands, compared to its average volume of 1,510,735. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The business's 50-day moving average is $80.10 and its 200-day moving average is $82.12. The stock has a market capitalization of $19.59 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.79 and a beta of 1.22. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be given 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 is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.50%. Principal Financial Group's dividend payout ratio is presently 43.71%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PFG. JPMorgan Chase & Co. raised Principal Financial Group from a "neutral" rating to an "overweight" rating and lowered their price target for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. BMO Capital Markets began coverage on Principal Financial Group in a report on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price target on the stock. Wells Fargo & Company lowered their price target on Principal Financial Group from $75.00 to $69.00 and set an "underweight" rating on the stock in a report on Tuesday, January 14th. Piper Sandler upped their price target on Principal Financial Group from $90.00 to $93.00 and gave the company an "overweight" rating in a report on Monday. Finally, Barclays upped their price target on Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a report on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $85.54.

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.