Principal Financial Group, Inc. (NYSE:PFG) Stock Position Lowered by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund lessened its position in Principal Financial Group, Inc. (NYSE:PFG) by 1.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,003 shares of the company’s stock after selling 180 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Principal Financial Group were worth $1,394,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PFG. KBC Group NV raised its stake in shares of Principal Financial Group by 398.4% in the 4th quarter. KBC Group NV now owns 291,379 shares of the company’s stock worth $22,555,000 after buying an additional 232,915 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Principal Financial Group by 85.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock worth $40,041,000 after buying an additional 215,045 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Principal Financial Group by 41.0% in the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after buying an additional 146,473 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in shares of Principal Financial Group by 818.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock worth $13,112,000 after acquiring an additional 136,021 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its holdings in shares of Principal Financial Group by 23.2% in the 4th quarter. AustralianSuper Pty Ltd now owns 665,410 shares of the company’s stock worth $51,509,000 after acquiring an additional 125,198 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of NYSE PFG opened at $89.04 on Friday. The business’s 50-day moving average price is $81.67 and its two-hundred day moving average price is $82.91. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.97. The company has a market capitalization of $20.08 billion, a P/E ratio of 13.33, 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. Shareholders of record on Wednesday, March 12th will be paid a $0.75 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.37%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s payout ratio is 44.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Piper Sandler lifted their target price on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods lifted their target price on Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. Wells Fargo & Company lifted their target price on Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a report on Wednesday, February 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th. Finally, BMO Capital Markets assumed coverage on Principal Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 target price on the stock. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Principal Financial Group has a consensus rating of “Hold” and an average 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.