SRS Capital Advisors Inc. Grows Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

SRS Capital Advisors Inc. raised its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 344.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,047 shares of the company’s stock after buying an additional 2,361 shares during the period. SRS Capital Advisors Inc.’s holdings in Principal Financial Group were worth $236,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PFG. Peterson Financial Group Inc. purchased a new position in shares of Principal Financial Group during the third quarter worth $33,000. BankPlus Trust Department acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at $33,000. Truvestments Capital LLC acquired a new stake in shares of Principal Financial Group in the third quarter valued at $43,000. Sugarloaf Wealth Management LLC raised its stake 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. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Principal Financial Group in the third quarter valued at $45,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Down 3.4 %

PFG opened at $85.62 on Wednesday. The business’s 50-day simple moving average is $82.06 and its 200-day simple moving average is $83.10. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.97. The stock has a market capitalization of $19.31 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 0.76 and a beta of 1.22.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders 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 3.50%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s payout ratio is 44.91%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Piper Sandler increased their price objective on Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Wells Fargo & Company increased their price objective on Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research note on Wednesday, February 19th. Barclays increased their price objective on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods increased their price objective on Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a research note on Thursday, January 16th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.