Kentucky Retirement Systems Insurance Trust Fund Grows Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 53.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,695 shares of the company’s stock after purchasing an additional 3,387 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Principal Financial Group were worth $750,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Peterson Financial Group Inc. acquired a new position in shares of Principal Financial Group during the 3rd quarter worth about $33,000. Truvestments Capital LLC purchased a new stake in Principal Financial Group during the third quarter worth approximately $43,000. Sugarloaf Wealth Management LLC boosted its holdings in Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after purchasing an additional 195 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Principal Financial Group in the third quarter valued at approximately $45,000. Finally, Golden State Wealth Management LLC acquired a new stake in Principal Financial Group during the fourth quarter worth approximately $46,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PFG. BMO Capital Markets assumed coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 target price for the company. Keefe, Bruyette & Woods raised their price objective on Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. 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 report on Thursday, December 5th. Wells Fargo & Company raised their price target on Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, Piper Sandler boosted their price objective on Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $85.92.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $86.19 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.26 and a quick ratio of 0.30. The business has a 50 day simple moving average of $80.43 and a 200-day simple moving average of $82.31. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.97. The stock has a market capitalization of $19.71 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 0.75 and a beta of 1.22.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.48%. 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. 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.