Nomura Asset Management Co. Ltd. Grows Position in Principal Financial Group, Inc. (NYSE:PFG)

Nomura Asset Management Co. Ltd. increased its position in Principal Financial Group, Inc. (NYSE:PFG) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,454 shares of the company’s stock after purchasing an additional 519 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Principal Financial Group were worth $7,854,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. lifted its position in Principal Financial Group by 2.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock valued at $404,000 after acquiring an additional 132 shares during the period. Leavell Investment Management Inc. lifted its holdings in shares of Principal Financial Group by 5.4% during the fourth quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock valued at $208,000 after purchasing an additional 138 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in shares of Principal Financial Group by 9.6% during the fourth quarter. CENTRAL TRUST Co now owns 1,730 shares of the company’s stock valued at $134,000 after purchasing an additional 151 shares during the last quarter. Cidel Asset Management Inc. boosted its position in shares of Principal Financial Group by 6.3% in the 4th quarter. Cidel Asset Management Inc. now owns 2,636 shares of the company’s stock worth $204,000 after purchasing an additional 156 shares in the last quarter. Finally, Hartford Funds Management Co LLC grew its stake in shares of Principal Financial Group by 1.5% in the 4th quarter. Hartford Funds Management Co LLC now owns 11,241 shares of the company’s stock worth $870,000 after buying an additional 161 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PFG shares. Morgan Stanley reissued 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. Royal Bank of Canada restated 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. Keefe, Bruyette & Woods upped their target price on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 12th. Piper Sandler raised their price target on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, BMO Capital Markets assumed coverage on Principal Financial Group in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective on the stock. Four equities 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 data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Stock Performance

Shares of NYSE PFG opened at $84.37 on Tuesday. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.98. The firm has a market capitalization of $19.03 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $84.21 and a 200 day moving average of $83.72.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.56%. This is a positive change 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 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.