Principal Financial Group, Inc. (NYSE:PFG) Shares Purchased by Weaver C. Barksdale & Associates Inc.

Weaver C. Barksdale & Associates Inc. increased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 13.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,900 shares of the company’s stock after buying an additional 2,760 shares during the quarter. Principal Financial Group comprises 1.7% of Weaver C. Barksdale & Associates Inc.’s holdings, making the stock its 27th largest position. Weaver C. Barksdale & Associates Inc.’s holdings in Principal Financial Group were worth $1,774,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Principal Financial Group by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,403,689 shares of the company’s stock valued at $120,577,000 after purchasing an additional 18,801 shares during the period. Cerity Partners LLC grew its stake in shares of Principal Financial Group by 12.3% in the 3rd quarter. Cerity Partners LLC now owns 30,042 shares of the company’s stock valued at $2,581,000 after buying an additional 3,281 shares during the period. Larson Financial Group LLC increased its holdings in shares of Principal Financial Group by 132.8% during the 3rd quarter. Larson Financial Group LLC now owns 675 shares of the company’s stock worth $58,000 after buying an additional 385 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Principal Financial Group by 1.7% in the third quarter. Daiwa Securities Group Inc. now owns 27,523 shares of the company’s stock valued at $2,364,000 after acquiring an additional 457 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in Principal Financial Group by 7.8% in the third quarter. Brown Brothers Harriman & Co. now owns 3,006 shares of the company’s stock worth $258,000 after acquiring an additional 218 shares during the period. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Trading Up 0.5 %

PFG opened at $85.67 on Wednesday. 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 stock has a market capitalization of $19.32 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.76 and a beta of 1.17. The business has a fifty day moving average price of $83.94 and a 200 day moving average price of $83.58. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.98.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.50%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio is presently 44.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PFG shares. 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 research report on Thursday, December 5th. Keefe, Bruyette & Woods upped their target price on shares of 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. Barclays lifted their price target on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, February 7th. Piper Sandler upped their price objective on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, BMO Capital Markets initiated coverage on 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. Four research analysts have rated the stock with a sell rating, six have issued 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.com, the stock has an average rating of “Hold” and a consensus price target 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.