IMS Capital Management Buys New Position in Principal Financial Group, Inc. (NYSE:PFG)

IMS Capital Management purchased a new position in shares of Principal Financial Group, Inc. (NYSE:PFG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,900 shares of the company’s stock, valued at approximately $224,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Asset Management One Co. Ltd. grew its holdings in Principal Financial Group by 0.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 109,548 shares of the company’s stock worth $8,513,000 after acquiring an additional 448 shares during the period. Leavell Investment Management Inc. raised its holdings in shares of Principal Financial Group by 5.4% during the fourth quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock valued at $208,000 after purchasing an additional 138 shares during the period. Stonebridge Financial Group LLC bought a new position in shares of Principal Financial Group during the 4th quarter worth about $98,000. Compass Financial Services Inc acquired a new stake in shares of Principal Financial Group in the 4th quarter valued at about $89,000. Finally, WCM Investment Management LLC increased its position in Principal Financial Group by 112.4% in the 4th quarter. WCM Investment Management LLC now owns 6,544 shares of the company’s stock valued at $505,000 after buying an additional 3,463 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Shares of NYSE PFG opened at $86.95 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $19.89 billion, a PE ratio of 13.02, a PEG ratio of 0.79 and a beta of 1.22. The stock’s 50 day moving average price is $80.04 and its 200-day moving average price is $82.09. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.75 per share. 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. This represents a $3.00 annualized dividend and a dividend yield of 3.45%. Principal Financial Group’s dividend payout ratio (DPR) is currently 43.71%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PFG. Keefe, Bruyette & Woods increased their price target on Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday. Barclays boosted their price target on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. Piper Sandler upped their price objective on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Finally, BMO Capital Markets started coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $85.54.

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.