Principal Financial Group, Inc. (NYSE:PFG) Shares Acquired by Capital Management Corp VA

Capital Management Corp VA increased its position in Principal Financial Group, Inc. (NYSE:PFG) by 14.1% in the fourth quarter, Holdings Channel reports. The firm owned 115,614 shares of the company’s stock after purchasing an additional 14,301 shares during the quarter. Principal Financial Group accounts for 1.6% of Capital Management Corp VA’s holdings, making the stock its 27th biggest holding. Capital Management Corp VA’s holdings in Principal Financial Group were worth $8,950,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Peterson Financial Group Inc. bought a new position in Principal Financial Group during the 3rd quarter worth approximately $33,000. BankPlus Trust Department acquired a new stake in shares of Principal Financial Group during the 4th quarter valued at approximately $33,000. Truvestments Capital LLC bought a new position in Principal Financial Group during the third quarter worth $43,000. Prospera Private Wealth LLC acquired a new position in Principal Financial Group in the third quarter worth $45,000. Finally, Sugarloaf Wealth Management LLC increased its stake in Principal Financial Group by 53.6% during 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 during the last quarter. 75.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Piper Sandler raised 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 report on Monday, February 10th. Keefe, Bruyette & Woods raised their target price on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. BMO Capital Markets assumed coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 target price for the company. Barclays increased their price target on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, February 7th. Finally, 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. 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 stock. Based on data from MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and an average price target of $85.92.

Principal Financial Group Trading Down 1.2 %

NYSE:PFG opened at $85.61 on Friday. The stock has a market cap of $19.31 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97. The business has a fifty day moving average of $82.56 and a 200-day moving average of $83.20.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.75 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 annualized dividend and a yield of 3.50%. Principal Financial Group’s dividend payout ratio (DPR) is presently 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.