NEOS Investment Management LLC Purchases 2,484 Shares of Principal Financial Group, Inc. (NYSE:PFG)

NEOS Investment Management LLC lifted its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 29.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,044 shares of the company’s stock after acquiring an additional 2,484 shares during the period. NEOS Investment Management LLC’s holdings in Principal Financial Group were worth $855,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PFG. Curio Wealth LLC purchased a new stake in Principal Financial Group during the 4th quarter valued at $29,000. BankPlus Trust Department purchased a new stake in shares of Principal Financial Group during the fourth quarter valued at $33,000. Sugarloaf Wealth Management LLC increased its holdings in Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after buying an additional 195 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Principal Financial Group in the 4th quarter worth about $46,000. Finally, Whipplewood Advisors LLC bought a new position in Principal Financial Group during the 4th quarter valued at about $54,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Trading Down 2.4 %

Shares of NYSE:PFG opened at $83.06 on Monday. The stock has a 50 day moving average of $84.15 and a 200 day moving average of $83.69. The company has a market cap of $18.74 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.98. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group Increases Dividend

The company 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. The ex-dividend date was 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 3.61%. Principal Financial Group’s dividend payout ratio is 44.91%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PFG. Piper Sandler lifted their price target on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Royal Bank of Canada reiterated 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. BMO Capital Markets initiated coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price target on the stock. Keefe, Bruyette & Woods upped their price objective on Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Finally, 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 report on Thursday, December 5th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Principal Financial Group presently has an average rating of “Hold” and an average price target of $85.92.

About Principal Financial Group

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.