Principal Financial Group, Inc. (NYSE:PFG) Shares Purchased by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund raised its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 53.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,695 shares of the company’s stock after acquiring an additional 3,387 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Principal Financial Group were worth $750,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PFG. Peterson Financial Group Inc. purchased a new stake in shares of Principal Financial Group in the third quarter valued at about $33,000. Truvestments Capital LLC acquired a new position in Principal Financial Group in the 3rd quarter valued at about $43,000. Prospera Private Wealth LLC purchased a new stake in shares of Principal Financial Group in the 3rd quarter valued at approximately $45,000. Sugarloaf Wealth Management LLC increased its holdings in shares of Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after buying an additional 195 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Principal Financial Group during the 3rd quarter valued at approximately $50,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Down 0.5 %

Principal Financial Group stock opened at $86.19 on Thursday. The firm has a market capitalization of $19.71 billion, a P/E ratio of 12.90, a P/E/G ratio of 0.75 and a beta of 1.22. The company has a current ratio of 0.26, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.97. The stock’s fifty day simple moving average is $80.43 and its 200-day simple moving average is $82.31.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be given a $0.75 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.48%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio (DPR) is currently 43.71%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PFG. Barclays raised their target price on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, February 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. BMO Capital Markets started coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 target price on the stock. Morgan Stanley reissued an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Finally, Piper Sandler increased their price objective on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Four analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $85.92.

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.