Golden State Wealth Management LLC Invests $46,000 in Principal Financial Group, Inc. (NYSE:PFG)

Golden State Wealth Management LLC purchased a new position in Principal Financial Group, Inc. (NYSE:PFG) in the 4th quarter, HoldingsChannel reports. The fund purchased 596 shares of the company’s stock, valued at approximately $46,000.

A number of other hedge funds also recently bought and sold shares of PFG. KBC Group NV increased its holdings in shares of Principal Financial Group by 398.4% in the 4th quarter. KBC Group NV now owns 291,379 shares of the company’s stock worth $22,555,000 after purchasing an additional 232,915 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Principal Financial Group by 85.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock worth $40,041,000 after buying an additional 215,045 shares in the last quarter. Bank of Montreal Can raised its position in Principal Financial Group by 41.0% in the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after buying an additional 146,473 shares during the last quarter. Mizuho Securities USA LLC lifted its stake in Principal Financial Group by 818.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock valued at $13,112,000 after acquiring an additional 136,021 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of Principal Financial Group by 6,593.7% during the 3rd quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock valued at $11,356,000 after acquiring an additional 130,225 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PFG shares. Morgan Stanley reissued an “underweight” rating and set a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Keefe, Bruyette & Woods decreased their target price on shares of Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating for the company in a research note on Friday, January 10th. BMO Capital Markets initiated 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 on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. Finally, Piper Sandler raised their target price on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given 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 $85.38.

Principal Financial Group Stock Up 1.3 %

PFG stock opened at $85.45 on Wednesday. The business’s 50-day moving average price is $80.02 and its 200-day moving average price is $82.04. The stock has a market cap of $19.54 billion, a P/E ratio of 12.79, a PEG ratio of 0.79 and a beta of 1.22. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.97.

Principal Financial Group Increases Dividend

The company 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 positive change from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio is presently 43.71%.

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.