ING Groep NV Invests $776,000 in Principal Financial Group, Inc. (NYSE:PFG)

ING Groep NV purchased a new position in Principal Financial Group, Inc. (NYSE:PFG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,028 shares of the company’s stock, valued at approximately $776,000.

A number of other institutional investors also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. grew its position in shares of Principal Financial Group by 2.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock valued at $404,000 after purchasing an additional 132 shares during the period. Leavell Investment Management Inc. grew its position in shares of Principal Financial Group by 5.4% in the fourth quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock valued at $208,000 after purchasing an additional 138 shares during the period. Prime Capital Investment Advisors LLC grew its position in shares of Principal Financial Group by 2.3% in the third quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock valued at $546,000 after purchasing an additional 142 shares during the period. Empirical Finance LLC grew its position in shares of Principal Financial Group by 1.8% in the third quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock valued at $676,000 after purchasing an additional 142 shares during the period. Finally, Palisade Asset Management LLC grew its position in shares of Principal Financial Group by 2.1% in the third quarter. Palisade Asset Management LLC now owns 6,946 shares of the company’s stock valued at $597,000 after purchasing an additional 146 shares during the period. 75.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on PFG. Piper Sandler boosted their price target on Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. BMO Capital Markets began coverage on Principal Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price target for the company. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Royal Bank of Canada reissued 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. Finally, Wells Fargo & Company boosted their price target on Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Price Performance

Shares of NYSE:PFG opened at $85.11 on Tuesday. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97. The business has a fifty day simple moving average of $80.82 and a 200 day simple moving average of $82.62. The firm has a market cap of $19.20 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 0.76 and a beta of 1.22.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.52%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio is presently 44.91%.

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.