Principal Financial Group, Inc. (NYSE:PFG) Shares Acquired by Capital Management Corp VA

Capital Management Corp VA raised its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 14.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 115,614 shares of the company’s stock after purchasing an additional 14,301 shares during the period. Principal Financial Group accounts for 1.6% of Capital Management Corp VA’s portfolio, making the stock its 27th largest position. Capital Management Corp VA owned about 0.05% of Principal Financial Group worth $8,950,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its holdings in shares of Principal Financial Group by 15.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 21,764 shares of the company’s stock worth $1,870,000 after buying an additional 2,933 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in Principal Financial Group by 2.9% during the third quarter. Harbor Capital Advisors Inc. now owns 5,091 shares of the company’s stock valued at $437,000 after acquiring an additional 144 shares during the period. Asset Management One Co. Ltd. increased its stake in Principal Financial Group by 15.4% during the third quarter. Asset Management One Co. Ltd. now owns 109,100 shares of the company’s stock worth $9,372,000 after acquiring an additional 14,588 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Principal Financial Group by 3.0% in the 3rd quarter. Principal Financial Group Inc. now owns 231,277 shares of the company’s stock worth $19,867,000 after purchasing an additional 6,817 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in shares of Principal Financial Group in the 3rd quarter valued at about $50,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Down 1.2 %

Shares of NYSE PFG opened at $85.61 on Friday. 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 1 year low of $72.21 and a 1 year high of $91.97. The stock’s 50-day simple moving average is $82.56 and its 200-day simple moving average is $83.20. 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.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This is an increase 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 currently 44.91%.

Analyst Ratings Changes

PFG has been the subject of a number of research analyst reports. BMO Capital Markets assumed coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price for the company. Keefe, Bruyette & Woods increased their price objective on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. Morgan Stanley reissued an “underweight” rating and issued a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Piper Sandler upped their price target 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. Finally, Barclays raised their price objective on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, February 7th. 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $85.92.

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.