Commonwealth Equity Services LLC Has $6.01 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Commonwealth Equity Services LLC grew its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 2.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 77,668 shares of the company’s stock after acquiring an additional 1,620 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Principal Financial Group were worth $6,012,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PFG. BankPlus Trust Department acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at approximately $33,000. Truvestments Capital LLC acquired a new position in Principal Financial Group during the third quarter worth $43,000. Sugarloaf Wealth Management LLC increased its holdings 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 during the last quarter. Prospera Private Wealth LLC acquired a new position in Principal Financial Group during the third quarter worth $45,000. Finally, Golden State Wealth Management LLC acquired a new position in Principal Financial Group during the fourth quarter worth $46,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PFG. Wells Fargo & Company boosted their target price on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a report on Wednesday, February 19th. Morgan Stanley restated an “underweight” rating and set a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Keefe, Bruyette & Woods boosted 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 report on Wednesday, February 12th. Piper Sandler boosted their target price on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $85.92.

Principal Financial Group Trading Down 1.0 %

Shares of Principal Financial Group stock opened at $83.26 on Friday. The firm has a 50-day moving average of $83.65 and a 200-day moving average of $83.45. The stock has a market cap of $18.78 billion, a PE ratio of 12.46, a PEG ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week 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.

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 $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.60%. 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 payout ratio is presently 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.