Inceptionr LLC Acquires New Stake in Principal Financial Group, Inc. (NYSE:PFG)

Inceptionr LLC acquired a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 17,116 shares of the company’s stock, valued at approximately $1,325,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Metis Global Partners LLC increased its position in Principal Financial Group by 5.0% during the 3rd quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock valued at $965,000 after buying an additional 533 shares in the last quarter. Sanctuary Advisors LLC increased its position in Principal Financial Group by 66.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock valued at $2,137,000 after buying an additional 9,933 shares in the last quarter. Legacy Financial Group LLC bought a new stake in shares of Principal Financial Group in the 4th quarter worth $771,000. Columbus Macro LLC raised its stake in shares of Principal Financial Group by 46.7% in the fourth quarter. Columbus Macro LLC now owns 25,653 shares of the company’s stock worth $1,986,000 after purchasing an additional 8,169 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Principal Financial Group by 358.7% in the third quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock worth $1,403,000 after purchasing an additional 12,768 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of PFG opened at $87.06 on Thursday. 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 firm has a market capitalization of $19.64 billion, a P/E ratio of 13.03, a PEG ratio of 0.76 and a beta of 1.17. The business has a fifty day moving average of $82.24 and a 200 day moving average of $83.12.

Principal Financial Group Increases Dividend

The business also recently declared 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. This represents a $3.00 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s payout ratio is currently 44.91%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PFG. Wells Fargo & Company boosted their price target on Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 19th. Piper Sandler boosted their price target on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods boosted their price target on Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 12th. BMO Capital Markets began coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price target for the company. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $91.00 price target on shares of Principal Financial Group in a research note on Thursday, January 16th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Principal Financial Group 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.