Capital Research Global Investors Buys 9,989 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Capital Research Global Investors increased its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,967,857 shares of the company's stock after acquiring an additional 9,989 shares during the quarter. Capital Research Global Investors owned about 2.17% of Principal Financial Group worth $384,562,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PFG. Curio Wealth LLC acquired a new stake in Principal Financial Group during the fourth quarter worth approximately $29,000. BankPlus Trust Department bought a new stake in Principal Financial Group during the fourth quarter worth about $33,000. Covestor Ltd grew its stake in Principal Financial Group by 144.3% during the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock worth $42,000 after buying an additional 319 shares in the last quarter. Sugarloaf Wealth Management LLC increased its holdings in Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock valued at $43,000 after buying an additional 195 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in Principal Financial Group in the 4th quarter valued at about $46,000. 75.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. UBS Group increased their price target on shares of Principal Financial Group from $87.00 to $93.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 2nd. Piper Sandler raised their target price on Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. raised Principal Financial Group from a "neutral" rating to an "overweight" rating and lowered their price target for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Barclays reduced their price objective on Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. Finally, Keefe, Bruyette & Woods lifted their target price on Principal Financial Group from $90.00 to $92.00 and gave the company a "market perform" rating in a research report on Wednesday, February 12th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Principal Financial Group presently has an average rating of "Hold" and an average target price of $84.69.

Principal Financial Group Trading Down 1.5 %

NYSE PFG traded down $1.12 during trading hours on Friday, reaching $73.88. The company's stock had a trading volume of 1,173,070 shares, compared to its average volume of 1,288,929. The firm has a fifty day simple moving average of $80.76 and a 200-day simple moving average of $82.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.98. The stock has a market cap of $16.62 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.76 and a beta of 1.01.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 4.11%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's dividend payout ratio (DPR) is presently 44.91%.

Principal Financial Group Company 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.