Principal Financial Group, Inc. (NYSE:PFG) Position Increased by Advisory Services Network LLC

Advisory Services Network LLC increased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 32.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,568 shares of the company’s stock after buying an additional 868 shares during the quarter. Advisory Services Network LLC’s holdings in Principal Financial Group were worth $276,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PFG. Legacy Financial Group LLC bought a new position in Principal Financial Group in the 4th quarter worth approximately $771,000. Columbus Macro LLC boosted its position in Principal Financial Group by 46.7% during the 4th quarter. Columbus Macro LLC now owns 25,653 shares of the company’s stock worth $1,986,000 after acquiring an additional 8,169 shares during the period. Lecap Asset Management Ltd. grew its stake in shares of Principal Financial Group by 135.6% in the fourth quarter. Lecap Asset Management Ltd. now owns 22,469 shares of the company’s stock worth $1,739,000 after purchasing an additional 12,933 shares in the last quarter. Quantbot Technologies LP increased its holdings in shares of Principal Financial Group by 2,064.3% during the fourth quarter. Quantbot Technologies LP now owns 148,299 shares of the company’s stock valued at $11,480,000 after purchasing an additional 141,447 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Principal Financial Group by 2.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock valued at $404,000 after purchasing an additional 132 shares in the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Trading Up 0.7 %

Shares of NYSE PFG opened at $72.14 on Friday. The business has a fifty day simple moving average of $81.78 and a 200-day simple moving average of $82.64. The company has a market cap of $16.23 billion, a price-to-earnings ratio of 10.80, a P/E/G ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.98. 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 4.16%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date was Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) is presently 44.91%.

Analyst Ratings Changes

Several research firms have commented on PFG. Wells Fargo & Company lowered their target price on shares of Principal Financial Group from $74.00 to $68.00 and set an “underweight” rating on the stock in a research note on Thursday, April 10th. 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 note on Thursday, January 16th. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their price target on Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler upped their price objective on Principal Financial Group from $93.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $84.69.

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.