Charles Schwab Investment Management Inc. Boosts Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Charles Schwab Investment Management Inc. raised its stake in Principal Financial Group, Inc. (NYSE:PFG) by 3.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,448,507 shares of the company’s stock after purchasing an additional 44,818 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Principal Financial Group were worth $112,129,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Harbor Capital Advisors Inc. increased its holdings in shares of Principal Financial Group by 2.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock worth $404,000 after purchasing an additional 132 shares during the last quarter. Leavell Investment Management Inc. grew its holdings in Principal Financial Group by 5.4% during the 4th quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock valued at $208,000 after buying an additional 138 shares in the last quarter. Prime Capital Investment Advisors LLC increased its stake in Principal Financial Group by 2.3% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock worth $546,000 after acquiring an additional 142 shares during the last quarter. Empirical Finance LLC raised its holdings in shares of Principal Financial Group by 1.8% during the 3rd quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock worth $676,000 after acquiring an additional 142 shares in the last quarter. Finally, Palisade Asset Management LLC boosted its position in shares of Principal Financial Group by 2.1% during the 3rd quarter. Palisade Asset Management LLC now owns 6,946 shares of the company’s stock valued at $597,000 after acquiring an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

PFG stock opened at $85.61 on Friday. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.97. The firm has a market cap of $19.31 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.76 and a beta of 1.17. The business’s fifty day simple moving average is $82.56 and its two-hundred day simple moving average is $83.24. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

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 paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.50%. The ex-dividend date 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 currently 44.91%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Barclays boosted 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. Keefe, Bruyette & Woods boosted their target price on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. Wells Fargo & Company lifted their price target on 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, Piper Sandler upped their price objective on Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Four 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $85.92.

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.