Mn Services Vermogensbeheer B.V. Increases Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Mn Services Vermogensbeheer B.V. boosted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,980 shares of the company’s stock after buying an additional 1,600 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Principal Financial Group were worth $7,198,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Peterson Financial Group Inc. purchased a new position in Principal Financial Group during the third quarter worth about $33,000. BankPlus Trust Department purchased a new position in shares of Principal Financial Group in the fourth quarter valued at approximately $33,000. Truvestments Capital LLC purchased a new position in shares of Principal Financial Group in the third quarter valued at approximately $43,000. Prospera Private Wealth LLC purchased a new position in shares of Principal Financial Group in the third quarter valued at approximately $45,000. Finally, Sugarloaf Wealth Management LLC boosted its stake in shares of 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 during the period. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Up 1.7 %

PFG stock opened at $89.04 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.97. The company’s 50 day moving average is $81.67 and its two-hundred day moving average is $82.85. The stock has a market cap of $20.08 billion, a P/E ratio of 13.33, a PEG ratio of 0.76 and a beta of 1.22.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.75 per share. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.37%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio (DPR) is presently 44.91%.

Analyst Upgrades and Downgrades

PFG has been the subject of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a research note on Thursday, January 16th. Piper Sandler raised their price objective on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Barclays raised their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. Wells Fargo & Company raised their target price on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, February 19th. Finally, BMO Capital Markets began 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 on the stock. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $85.92.

About Principal Financial Group

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.