Sciencast Management LP Makes New $2.01 Million Investment in Principal Financial Group, Inc. (NYSE:PFG)

Sciencast Management LP purchased a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 25,919 shares of the company’s stock, valued at approximately $2,006,000.

A number of other hedge funds also recently bought and sold shares of the company. Curio Wealth LLC bought a new position in Principal Financial Group in the 4th quarter valued at approximately $29,000. BankPlus Trust Department bought a new position in Principal Financial Group during the 4th quarter valued at about $33,000. Truvestments Capital LLC purchased a new position in shares of Principal Financial Group during the third quarter valued at approximately $43,000. Sugarloaf Wealth Management LLC lifted its position in Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after purchasing an additional 195 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in Principal Financial Group in the third quarter worth approximately $45,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

NYSE PFG opened at $83.26 on Friday. The business’s 50 day moving average price is $83.65 and its 200-day moving average price is $83.45. 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 $18.78 billion, a P/E ratio of 12.46, a P/E/G ratio of 0.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $3.00 annualized dividend and a dividend yield of 3.60%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio is currently 44.91%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PFG shares. Barclays upped their price objective on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, February 7th. Wells Fargo & Company increased their price target on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $91.00 target price on shares of Principal Financial Group in a research report on Thursday, January 16th. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $95.00 to $92.00 in a research 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 for the company. 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $85.92.

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.