Principal Financial Group, Inc. (NYSE:PFG) Shares Bought by Pinion Investment Advisors LLC

Pinion Investment Advisors LLC grew its stake in Principal Financial Group, Inc. (NYSE:PFG) by 3.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,080 shares of the company’s stock after buying an additional 297 shares during the quarter. Pinion Investment Advisors LLC’s holdings in Principal Financial Group were worth $780,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Metis Global Partners LLC boosted its position in Principal Financial Group by 5.0% in the 3rd quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock worth $965,000 after purchasing an additional 533 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in Principal Financial Group by 66.2% during the third quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock worth $2,137,000 after buying an additional 9,933 shares in the last quarter. Legacy Financial Group LLC acquired a new stake in Principal Financial Group during the fourth quarter valued at $771,000. Columbus Macro LLC increased its holdings in Principal Financial Group by 46.7% in the fourth quarter. Columbus Macro LLC now owns 25,653 shares of the company’s stock valued at $1,986,000 after buying an additional 8,169 shares in the last quarter. Finally, Empowered Funds LLC raised its position in shares of Principal Financial Group by 358.7% in the third quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock worth $1,403,000 after acquiring an additional 12,768 shares during the period. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

PFG has been the subject of several research analyst reports. Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Royal Bank of Canada restated a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. Piper Sandler lifted their target price on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Wells Fargo & Company upped 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 report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Principal Financial Group has an average rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Trading Down 0.4 %

NYSE PFG opened at $88.64 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The stock has a market capitalization of $19.99 billion, a P/E ratio of 13.27, a PEG ratio of 0.76 and a beta of 1.22. The firm’s 50-day moving average is $81.90 and its two-hundred day moving average is $83.04. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.97.

Principal Financial Group Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.38%. 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%.

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.