Leavell Investment Management Inc. Buys 138 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Leavell Investment Management Inc. increased its stake in Principal Financial Group, Inc. (NYSE:PFG) by 5.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,693 shares of the company’s stock after purchasing an additional 138 shares during the quarter. Leavell Investment Management Inc.’s holdings in Principal Financial Group were worth $208,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PFG. KBC Group NV raised its holdings in shares of Principal Financial Group by 398.4% in the 4th quarter. KBC Group NV now owns 291,379 shares of the company’s stock worth $22,555,000 after purchasing an additional 232,915 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Principal Financial Group by 85.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock valued at $40,041,000 after acquiring an additional 215,045 shares during the period. Bank of Montreal Can raised its holdings in Principal Financial Group by 41.0% during the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock valued at $43,367,000 after acquiring an additional 146,473 shares during the period. Mizuho Securities USA LLC raised its holdings in Principal Financial Group by 818.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock valued at $13,112,000 after acquiring an additional 136,021 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in Principal Financial Group by 6,593.7% during the 3rd quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock valued at $11,356,000 after acquiring an additional 130,225 shares during the period. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Down 1.5 %

Shares of NYSE:PFG opened at $85.65 on Friday. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.97. The firm has a fifty day moving average of $80.10 and a 200 day moving average of $82.12. The firm has a market capitalization of $19.59 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.79 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30.

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 given a $0.75 dividend. The ex-dividend date is Wednesday, March 12th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 3.50%. Principal Financial Group’s payout ratio is 43.71%.

Analysts Set New Price Targets

PFG has been the topic of a number of analyst reports. Barclays boosted their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, February 7th. Morgan Stanley reissued 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. Keefe, Bruyette & Woods boosted their price target on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday. Piper Sandler boosted their price target 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. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a research report on Thursday, January 16th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $85.54.

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.