OLD Mission Capital LLC Takes $682,000 Position in Principal Financial Group, Inc. (NYSE:PFG)

OLD Mission Capital LLC bought a new stake in Principal Financial Group, Inc. (NYSE:PFG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,808 shares of the company’s stock, valued at approximately $682,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PFG. Geode Capital Management LLC raised its stake in shares of Principal Financial Group by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company’s stock worth $422,074,000 after purchasing an additional 52,410 shares during the last quarter. HighPoint Advisor Group LLC raised its position in Principal Financial Group by 2.1% during the 4th quarter. HighPoint Advisor Group LLC now owns 9,778 shares of the company’s stock worth $836,000 after buying an additional 203 shares during the last quarter. Allstate Corp acquired a new stake in Principal Financial Group during the 4th quarter valued at approximately $520,000. Orion Portfolio Solutions LLC boosted its holdings in shares of Principal Financial Group by 23.0% in the 4th quarter. Orion Portfolio Solutions LLC now owns 3,438 shares of the company’s stock valued at $266,000 after acquiring an additional 644 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in shares of Principal Financial Group by 18.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 145,275 shares of the company’s stock worth $11,246,000 after acquiring an additional 22,699 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PFG. Barclays upped their price target on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, February 7th. Piper Sandler raised their target price on Principal Financial Group from $93.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. Wells Fargo & Company lifted their target price on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $86.57.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock opened at $72.94 on Friday. The stock has a market capitalization of $16.45 billion, a P/E ratio of 10.92, a PEG ratio of 0.76 and a beta of 1.01. The business has a 50 day simple moving average of $84.12 and a two-hundred day simple moving average of $83.67. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.98. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were paid a $0.75 dividend. 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 4.11%. The ex-dividend date was Wednesday, March 12th. Principal Financial Group’s dividend payout ratio is currently 44.91%.

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.