WCM Investment Management LLC Has $505,000 Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

WCM Investment Management LLC boosted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 112.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,544 shares of the company’s stock after buying an additional 3,463 shares during the quarter. WCM Investment Management LLC’s holdings in Principal Financial Group were worth $505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PFG. Peterson Financial Group Inc. bought a new stake in shares of Principal Financial Group during the 3rd quarter worth about $33,000. Truvestments Capital LLC acquired a new stake in shares of Principal Financial Group during the 3rd quarter worth $43,000. Sugarloaf Wealth Management LLC grew its stake in Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after buying an additional 195 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Principal Financial Group in the third quarter valued at approximately $45,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Principal Financial Group in the 4th quarter valued at $46,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Up 2.5 %

PFG opened at $84.38 on Tuesday. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. The company’s 50-day moving average is $80.04 and its 200 day moving average is $82.04. The firm has a market capitalization of $19.30 billion, a P/E ratio of 12.63, a PEG ratio of 0.79 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be given a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $3.00 annualized dividend and a yield of 3.56%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s payout ratio is currently 44.91%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price target on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $91.00 price target on shares of Principal Financial Group in a research note on Thursday, January 16th. Morgan Stanley restated an “underweight” rating and issued a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Keefe, Bruyette & Woods dropped their price target on Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Finally, Piper Sandler increased their price objective on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $85.38.

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.