OLD Mission Capital LLC Purchases New Stake in Principal Financial Group, Inc. (NYSE:PFG)

OLD Mission Capital LLC acquired a new position in shares of Principal Financial Group, Inc. (NYSE:PFG) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 8,808 shares of the company’s stock, valued at approximately $682,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PFG. Curio Wealth LLC acquired a new position in shares of Principal Financial Group during the 4th quarter valued at about $29,000. BankPlus Trust Department acquired a new position in Principal Financial Group in the 4th quarter valued at about $33,000. Sugarloaf Wealth Management LLC grew its stake in shares of Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after buying an additional 195 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Principal Financial Group during the 4th quarter worth approximately $46,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Principal Financial Group during the 4th quarter valued at approximately $54,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Shares of PFG opened at $72.94 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.98. The company has a market cap of $16.45 billion, a P/E ratio of 10.92, a PEG ratio of 0.76 and a beta of 1.01. The firm’s 50 day moving average price is $84.12 and its 200 day moving average price is $83.67.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were issued a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. 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 yield of 4.11%. Principal Financial Group’s dividend payout ratio (DPR) is 44.91%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PFG shares. UBS Group raised their target price on Principal Financial Group from $87.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday. BMO Capital Markets initiated coverage on Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price target for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. Barclays increased their target price 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. Finally, JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $86.57.

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.