Amundi Grows Position in Principal Financial Group, Inc. (NYSE:PFG)

Amundi increased its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 24.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,359,779 shares of the company’s stock after buying an additional 264,383 shares during the quarter. Amundi owned about 0.59% of Principal Financial Group worth $106,511,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Metis Global Partners LLC grew its stake in Principal Financial Group by 5.0% during the 3rd quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock worth $965,000 after buying an additional 533 shares during the last quarter. Sanctuary Advisors LLC grew its stake in Principal Financial Group by 66.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock worth $2,137,000 after buying an additional 9,933 shares during the last quarter. Legacy Financial Group LLC purchased a new position in Principal Financial Group during the 4th quarter worth approximately $771,000. Columbus Macro LLC grew its stake 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 buying an additional 8,169 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in Principal Financial Group by 358.7% during the 3rd quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock worth $1,403,000 after buying an additional 12,768 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PFG. Keefe, Bruyette & Woods lifted their target price on Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Piper Sandler lifted their target price on Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Barclays lifted their target price on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. Finally, BMO Capital Markets began coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 target price on the stock. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $85.92.

Principal Financial Group Stock Down 2.3 %

PFG opened at $83.68 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The business has a 50 day simple moving average of $82.69 and a 200-day simple moving average of $83.32. The stock has a market capitalization of $18.88 billion, a P/E ratio of 12.53, a P/E/G ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.97.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be issued a dividend of $0.75 per share. The ex-dividend date is Wednesday, March 12th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 3.59%. Principal Financial Group’s payout ratio is currently 44.91%.

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.