3,648 Shares in Principal Financial Group, Inc. (NYSE:PFG) Bought by Brooklyn FI LLC

Brooklyn FI LLC bought a new stake in Principal Financial Group, Inc. (NYSE:PFG) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,648 shares of the company’s stock, valued at approximately $307,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Amundi boosted its holdings in Principal Financial Group by 24.1% in the 4th quarter. Amundi now owns 1,359,779 shares of the company’s stock worth $106,511,000 after buying an additional 264,383 shares during the last quarter. KBC Group NV boosted its stake in shares of Principal Financial Group by 398.4% in the fourth quarter. KBC Group NV now owns 291,379 shares of the company’s stock worth $22,555,000 after acquiring an additional 232,915 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Principal Financial Group by 85.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock worth $40,041,000 after purchasing an additional 215,045 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Principal Financial Group in the 4th quarter valued at $15,821,000. Finally, Bank of Montreal Can lifted its holdings in Principal Financial Group by 41.0% in the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock valued at $43,367,000 after purchasing an additional 146,473 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PFG. Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $91.00 price target on shares of Principal Financial Group in a research report on Thursday, January 16th. Keefe, Bruyette & Woods upped their target price on Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. Finally, Piper Sandler lifted their price target on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a report 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Stock Up 1.4 %

Shares of PFG opened at $84.41 on Thursday. The company’s 50-day moving average price is $83.40 and its 200 day moving average price is $83.43. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.98. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The firm has a market cap of $19.04 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Wednesday, March 12th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio (DPR) 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.