3,648 Shares in Principal Financial Group, Inc. (NYSE:PFG) Bought by Brooklyn FI LLC

Brooklyn FI LLC bought a new position in Principal Financial Group, Inc. (NYSE:PFG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,648 shares of the company’s stock, valued at approximately $307,000.

A number of other institutional investors have also modified their holdings of the company. Sanctuary Advisors LLC grew its holdings in Principal Financial Group by 66.2% in the third quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock worth $2,137,000 after purchasing an additional 9,933 shares during the last quarter. Legacy Financial Group LLC acquired a new position in Principal Financial Group during the 4th quarter valued at about $771,000. Columbus Macro LLC raised its stake in Principal Financial Group by 46.7% in the fourth quarter. Columbus Macro LLC now owns 25,653 shares of the company’s stock valued at $1,986,000 after buying an additional 8,169 shares during the last quarter. Empowered Funds LLC boosted its holdings in Principal Financial Group by 358.7% in the third quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock worth $1,403,000 after acquiring an additional 12,768 shares in the last quarter. Finally, Lecap Asset Management Ltd. increased its holdings in shares of Principal Financial Group by 135.6% during the fourth quarter. Lecap Asset Management Ltd. now owns 22,469 shares of the company’s stock valued at $1,739,000 after acquiring an additional 12,933 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on PFG. BMO Capital Markets assumed coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price target on the stock. Piper Sandler raised their target price on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods boosted their price target 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. Morgan Stanley restated an “underweight” rating and issued a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Finally, Barclays increased their price target on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, February 7th. Four analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Principal Financial Group currently has an average rating of “Hold” and an average target price of $85.92.

Principal Financial Group Stock Performance

Shares of NYSE PFG opened at $84.41 on Thursday. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The company’s fifty day moving average price is $83.40 and its 200 day moving average price is $83.43. The company has a market capitalization of $19.04 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be given 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 dividend on an annualized basis and a dividend yield of 3.55%. Principal Financial Group’s dividend payout ratio (DPR) is 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.