Elo Mutual Pension Insurance Co Raises Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Elo Mutual Pension Insurance Co grew its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 12.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,384 shares of the company’s stock after purchasing an additional 2,656 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Principal Financial Group were worth $1,810,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Amundi boosted its position in Principal Financial Group by 24.1% in the 4th quarter. Amundi now owns 1,359,779 shares of the company’s stock valued at $106,511,000 after buying an additional 264,383 shares during the period. KBC Group NV grew its stake in Principal Financial Group by 398.4% during the 4th quarter. KBC Group NV now owns 291,379 shares of the company’s stock worth $22,555,000 after purchasing an additional 232,915 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Principal Financial Group during the 4th quarter worth $15,821,000. Quantbot Technologies LP increased its holdings in Principal Financial Group by 2,064.3% during the 4th quarter. Quantbot Technologies LP now owns 148,299 shares of the company’s stock worth $11,480,000 after purchasing an additional 141,447 shares during the period. Finally, AustralianSuper Pty Ltd raised its position in Principal Financial Group by 23.2% in the 4th quarter. AustralianSuper Pty Ltd now owns 665,410 shares of the company’s stock valued at $51,509,000 after purchasing an additional 125,198 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Shares of NYSE PFG opened at $83.06 on Friday. 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 stock has a market cap of $18.74 billion, a P/E ratio of 12.43, a P/E/G ratio of 0.76 and a beta of 1.17. The stock has a 50 day moving average of $84.15 and a two-hundred day moving average of $83.66. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.98.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were given a dividend of $0.75 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) is presently 44.91%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PFG shares. Royal Bank of Canada restated a “sector perform” rating and set a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. Barclays increased their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, February 7th. Wells Fargo & Company lifted their price objective on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. Piper Sandler increased their target price on Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, BMO Capital Markets began coverage on Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price target for the company. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $85.92.

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.