Principal Financial Group, Inc. (NYSE:PFG) Shares Acquired by Cidel Asset Management Inc.

Cidel Asset Management Inc. boosted its position in Principal Financial Group, Inc. (NYSE:PFG) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,636 shares of the company’s stock after buying an additional 156 shares during the quarter. Cidel Asset Management Inc.’s holdings in Principal Financial Group were worth $204,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PFG. JPMorgan Chase & Co. increased its holdings in shares of Principal Financial Group by 5.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock valued at $211,534,000 after acquiring an additional 118,722 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Principal Financial Group by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,403,689 shares of the company’s stock worth $120,577,000 after purchasing an additional 18,801 shares during the period. Barclays PLC increased its stake in Principal Financial Group by 12.3% during the third quarter. Barclays PLC now owns 806,672 shares of the company’s stock valued at $69,293,000 after purchasing an additional 88,179 shares during the last quarter. AustralianSuper Pty Ltd raised its holdings in shares of Principal Financial Group by 27.2% during the third quarter. AustralianSuper Pty Ltd now owns 540,212 shares of the company’s stock worth $46,404,000 after purchasing an additional 115,569 shares during the period. Finally, Bank of Montreal Can lifted its position in shares of Principal Financial Group by 41.0% in the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after buying an additional 146,473 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Analysts Set New Price Targets

PFG has been the subject of a number of recent research reports. Piper Sandler raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price objective for the company in a research report on Wednesday, December 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Morgan Stanley reaffirmed 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. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating for the company in a report on Friday, January 10th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.15.

Principal Financial Group Stock Performance

Shares of PFG opened at $82.33 on Monday. The firm has a market capitalization of $18.83 billion, a PE ratio of 12.32, a P/E/G ratio of 0.79 and a beta of 1.22. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $80.04 and a 200 day moving average price of $82.05. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.97.

Principal Financial Group Increases Dividend

The business also recently disclosed 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 is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 3.64%. Principal Financial Group’s dividend payout ratio (DPR) is 43.71%.

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.