Entropy Technologies LP Increases Stake in Principal Financial Group, Inc. (NYSE:PFG)

Entropy Technologies LP grew its position in Principal Financial Group, Inc. (NYSE:PFG) by 630.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 25,014 shares of the company’s stock after buying an additional 21,589 shares during the period. Entropy Technologies LP’s holdings in Principal Financial Group were worth $1,936,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PFG. Peterson Financial Group Inc. purchased a new position in Principal Financial Group in the 3rd quarter worth approximately $33,000. Truvestments Capital LLC purchased a new stake in Principal Financial Group during the 3rd quarter valued at $43,000. Prospera Private Wealth LLC bought a new stake in shares of Principal Financial Group in the 3rd quarter worth $45,000. Sugarloaf Wealth Management LLC raised its stake in shares of Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after purchasing an additional 195 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Principal Financial Group during the third quarter valued at $50,000. Institutional investors own 75.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on PFG shares. Wells Fargo & Company reduced their price objective on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. BMO Capital Markets started coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price objective for the company. Barclays raised their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday. Keefe, Bruyette & Woods decreased their target price on shares of Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating for the company in a research note on Friday, January 10th. 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 given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $85.15.

Principal Financial Group Price Performance

NYSE PFG opened at $82.33 on Monday. The business’s fifty day moving average is $80.04 and its 200 day moving average is $82.05. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $18.83 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 0.79 and a beta of 1.22.

Principal Financial Group Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, March 12th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.64%. Principal Financial Group’s payout ratio is 43.71%.

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.