First Command Advisory Services Inc. Acquires 236 Shares of Principal Financial Group, Inc. (NYSE:PFG)

First Command Advisory Services Inc. grew its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 37.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 864 shares of the company’s stock after buying an additional 236 shares during the quarter. First Command Advisory Services Inc.’s holdings in Principal Financial Group were worth $67,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. raised its stake in shares of Principal Financial Group by 2.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock valued at $404,000 after acquiring an additional 132 shares during the last quarter. Leavell Investment Management Inc. raised its stake in shares of Principal Financial Group by 5.4% during the fourth quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock valued at $208,000 after acquiring an additional 138 shares during the last quarter. Prime Capital Investment Advisors LLC raised its stake in shares of Principal Financial Group by 2.3% during the third quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock valued at $546,000 after acquiring an additional 142 shares during the last quarter. Empirical Finance LLC raised its stake in shares of Principal Financial Group by 1.8% during the third quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock valued at $676,000 after acquiring an additional 142 shares during the last quarter. Finally, Palisade Asset Management LLC raised its stake in shares of Principal Financial Group by 2.1% during the third quarter. Palisade Asset Management LLC now owns 6,946 shares of the company’s stock valued at $597,000 after acquiring an additional 146 shares during the last quarter. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Trading Up 1.9 %

NYSE:PFG opened at $87.53 on Friday. The company’s 50 day moving average price is $81.44 and its 200-day moving average price is $82.75. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.97. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The stock has a market cap of $19.74 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 0.76 and a beta of 1.22.

Principal Financial Group Increases Dividend

The company 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 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 dividend on an annualized basis and a dividend yield of 3.43%. Principal Financial Group’s dividend payout ratio is presently 44.91%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Piper Sandler increased 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 note on Monday, February 10th. Barclays increased their price target 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. BMO Capital Markets assumed coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price target for the company. Finally, Wells Fargo & Company increased their price target on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $85.92.

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.