596 Shares in Principal Financial Group, Inc. (NYSE:PFG) Bought by Golden State Wealth Management LLC

Golden State Wealth Management LLC 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 institutional investor purchased 596 shares of the company’s stock, valued at approximately $46,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Peterson Financial Group Inc. purchased a new stake in Principal Financial Group during the 3rd quarter valued at about $33,000. Truvestments Capital LLC bought a new stake in Principal Financial Group in the third quarter valued at approximately $43,000. Sugarloaf Wealth Management LLC boosted its stake in shares of 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. Prospera Private Wealth LLC bought a new position in shares of Principal Financial Group in the third quarter worth approximately $45,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Principal Financial Group in the third quarter worth $50,000. 75.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. BMO Capital Markets assumed coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price target for the company. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Morgan Stanley restated an “underweight” rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Piper Sandler increased their price objective on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Barclays boosted 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. Four analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and an average price target of $85.38.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock opened at $85.45 on Wednesday. The business has a fifty day simple moving average of $80.02 and a two-hundred day simple moving average of $82.04. The firm has a market capitalization of $19.54 billion, a P/E ratio of 12.79, a P/E/G ratio of 0.79 and a beta of 1.22. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio is 43.71%.

Principal Financial Group 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.