Stonebridge Financial Group LLC Acquires Shares of 1,271 Principal Financial Group, Inc. (NYSE:PFG)

Stonebridge Financial Group LLC acquired a new position in Principal Financial Group, Inc. (NYSE:PFG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,271 shares of the company’s stock, valued at approximately $98,000.

A number of other large investors have also recently made changes to their positions in the business. Peterson Financial Group Inc. purchased a new position in Principal Financial Group in the third quarter worth about $33,000. Truvestments Capital LLC purchased a new position in shares of Principal Financial Group in the 3rd quarter worth approximately $43,000. Prospera Private Wealth LLC bought a new position in shares of Principal Financial Group during the 3rd quarter valued at approximately $45,000. Sugarloaf Wealth Management LLC raised its holdings in Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after buying an additional 195 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in Principal Financial Group in the third quarter worth $50,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock opened at $84.94 on Thursday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The stock’s fifty day moving average price is $80.03 and its 200-day moving average price is $82.07. The firm has a market cap of $19.43 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.79 and a beta of 1.22. 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 declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $3.00 annualized dividend and a dividend yield of 3.53%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s payout ratio is currently 43.71%.

Analyst Ratings Changes

A number of research analysts have weighed in on PFG shares. Piper Sandler increased their target price on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday. Barclays raised their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, February 7th. Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Wells Fargo & Company decreased their price target on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Principal Financial Group presently has an average rating of “Hold” and an average target price of $85.54.

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.