By otakuyassine3@gmail.com 
Federated Hermes Inc. lifted its holdings in Principal Financial Group, Inc. (NYSE:PFG – Free Report) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,005 shares of the company’s stock after acquiring an additional 488 shares during the quarter. Federated Hermes Inc.’s holdings in Principal Financial Group were worth $1,549,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. Curio Wealth LLC acquired a new stake in Principal Financial Group during the 4th quarter worth about $29,000. BankPlus Trust Department acquired a new stake in Principal Financial Group during the fourth quarter worth about $33,000. Sugarloaf Wealth Management LLC raised its position in Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after acquiring an additional 195 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Principal Financial Group during the fourth quarter valued at approximately $46,000. Finally, Whipplewood Advisors LLC acquired a new position in Principal Financial Group in the fourth quarter valued at approximately $54,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.
Principal Financial Group Price Performance
Shares of NYSE PFG opened at $73.43 on Tuesday. The firm has a 50-day simple moving average of $82.65 and a 200-day simple moving average of $82.97. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $16.52 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.98.
Principal Financial Group Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 4.09%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) is 44.91%.
Analyst Ratings Changes
PFG has been the subject of several recent research reports. Morgan Stanley cut their target price on shares of Principal Financial Group from $77.00 to $65.00 and set an “underweight” rating for the company in a report on Thursday, April 10th. Barclays cut their price objective on shares of Principal Financial Group from $80.00 to $76.00 and set an “underweight” rating for the company in a report on Friday. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Piper Sandler lifted their price target on Principal Financial Group from $93.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Finally, Royal Bank of Canada reiterated 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. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $84.69.
View Our Latest Stock Analysis on PFG
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.
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