BankPlus Trust Department Buys New Shares in Principal Financial Group, Inc. (NYSE:PFG)

BankPlus Trust Department purchased a new position in Principal Financial Group, Inc. (NYSE:PFG) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 422 shares of the company’s stock, valued at approximately $33,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PFG. JPMorgan Chase & Co. grew its position in Principal Financial Group by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock worth $211,534,000 after buying an additional 118,722 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Principal Financial Group by 1.4% during the 3rd 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 in the last quarter. Barclays PLC increased its position in shares of 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 period. AustralianSuper Pty Ltd raised its stake in shares of Principal Financial Group by 23.2% in the fourth quarter. AustralianSuper Pty Ltd now owns 665,410 shares of the company’s stock valued at $51,509,000 after purchasing an additional 125,198 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in Principal Financial Group by 41.0% in the third quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after purchasing an additional 146,473 shares during the period. Institutional investors own 75.08% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have 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 price target on the stock. 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 report on Friday, February 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $91.00 price objective 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 lowered their price objective for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Finally, Piper Sandler raised their target price on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Four 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 company’s stock. According to MarketBeat.com, Principal Financial Group currently has a consensus rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $85.36 on Wednesday. The business’s fifty day moving average is $80.97 and its two-hundred day moving average is $82.70. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The firm has a market cap of $19.25 billion, a P/E ratio of 12.78, a P/E/G ratio of 0.76 and a beta of 1.22. 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 declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given a dividend of $0.75 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $3.00 annualized dividend and a yield of 3.51%. Principal Financial Group’s dividend payout ratio is 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.