Mizuho Securities USA LLC Purchases 6,128 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Mizuho Securities USA LLC grew its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 44.4% in the 4th quarter, HoldingsChannel reports. The firm owned 19,944 shares of the company’s stock after acquiring an additional 6,128 shares during the quarter. Mizuho Securities USA LLC’s holdings in Principal Financial Group were worth $1,544,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of PFG. Curio Wealth LLC bought a new stake in Principal Financial Group in the 4th quarter worth approximately $29,000. BankPlus Trust Department bought a new stake in shares of Principal Financial Group in the 4th quarter worth approximately $33,000. Truvestments Capital LLC bought a new stake in shares of Principal Financial Group in the 3rd quarter worth approximately $43,000. Sugarloaf Wealth Management LLC grew 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 valued at $43,000 after purchasing an additional 195 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in Principal Financial Group in the 4th quarter worth $46,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Performance

Shares of PFG opened at $85.67 on Wednesday. The company has a 50-day simple moving average of $83.94 and a two-hundred day simple moving average of $83.58. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The firm has a market capitalization of $19.32 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.98.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given 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 dividend yield of 3.50%. Principal Financial Group’s payout ratio is currently 44.91%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PFG shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a research note on Thursday, January 16th. Wells Fargo & Company raised their price target on Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. BMO Capital Markets assumed 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 for the company. Morgan Stanley restated an “underweight” rating and issued a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Finally, Keefe, Bruyette & Woods upped 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 report on Wednesday, February 12th. 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, the stock currently has an average rating of “Hold” and a consensus price target 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.