Whipplewood Advisors LLC Makes New Investment in Principal Financial Group, Inc. (NYSE:PFG)

Whipplewood Advisors LLC bought a new position in shares of Principal Financial Group, Inc. (NYSE:PFG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 700 shares of the company’s stock, valued at approximately $54,000.

Other institutional investors also recently bought and sold shares of the company. Peterson Financial Group Inc. purchased a new stake in Principal Financial Group during the third quarter worth $33,000. BankPlus Trust Department purchased a new stake in Principal Financial Group during the fourth quarter worth $33,000. Truvestments Capital LLC purchased a new stake in Principal Financial Group during the third quarter worth $43,000. Prospera Private Wealth LLC purchased a new stake in shares of Principal Financial Group in the third quarter valued at $45,000. Finally, Sugarloaf Wealth Management LLC lifted its position in shares of Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after acquiring an additional 195 shares in the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on PFG. Royal Bank of Canada restated a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. BMO Capital Markets began coverage on Principal Financial Group in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective on the stock. 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. Finally, Keefe, Bruyette & Woods upped their price objective 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 investment 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. According to MarketBeat, Principal Financial Group presently has an average rating of “Hold” and a consensus target price of $85.92.

Principal Financial Group Stock Performance

Principal Financial Group stock opened at $89.04 on Friday. The firm has a market capitalization of $20.08 billion, a P/E ratio of 13.33, a PEG ratio of 0.76 and a beta of 1.22. The stock has a fifty day moving average price of $81.67 and a 200 day moving average price of $82.85. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.97. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.75 per share. 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 3.37%. Principal Financial Group’s dividend payout ratio is currently 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.