Harbour Investments Inc. Purchases 275 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Harbour Investments Inc. boosted its position in Principal Financial Group, Inc. (NYSE:PFG) by 17.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,838 shares of the company’s stock after acquiring an additional 275 shares during the quarter. Harbour Investments Inc.’s holdings in Principal Financial Group were worth $142,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its stake in Principal Financial Group by 2.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 77,668 shares of the company’s stock valued at $6,012,000 after acquiring an additional 1,620 shares during the last quarter. Erste Asset Management GmbH increased its stake in Principal Financial Group by 4.8% in the fourth quarter. Erste Asset Management GmbH now owns 4,400 shares of the company’s stock valued at $342,000 after acquiring an additional 200 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Principal Financial Group by 9.6% during the fourth quarter. Farther Finance Advisors LLC now owns 7,216 shares of the company’s stock valued at $559,000 after buying an additional 632 shares during the period. Sequoia Financial Advisors LLC boosted its position in Principal Financial Group by 64.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,630 shares of the company’s stock valued at $358,000 after buying an additional 1,818 shares during the period. Finally, HighTower Advisors LLC boosted its position in Principal Financial Group by 8.1% during the fourth quarter. HighTower Advisors LLC now owns 14,451 shares of the company’s stock valued at $1,119,000 after buying an additional 1,080 shares during the period. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of PFG opened at $83.26 on Friday. 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 $91.98. The company has a 50-day simple moving average of $83.65 and a two-hundred day simple moving average of $83.46. The firm has a market capitalization of $18.78 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The business 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 $0.75 dividend. 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 yield of 3.60%. Principal Financial Group’s dividend payout ratio (DPR) is 44.91%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PFG. Barclays upped 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 target on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Royal Bank of Canada restated a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a research report on Thursday, January 16th. 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 research report on Wednesday, February 12th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus 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.