Xponance Inc. Increases Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Xponance Inc. lifted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 142.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 104,647 shares of the company’s stock after buying an additional 61,439 shares during the quarter. Xponance Inc.’s holdings in Principal Financial Group were worth $8,101,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of PFG. Curio Wealth LLC purchased a new stake in shares of Principal Financial Group during the 4th quarter valued at about $29,000. BankPlus Trust Department purchased a new stake in shares of Principal Financial Group during the 4th quarter valued at about $33,000. Truvestments Capital LLC purchased a new stake in shares of Principal Financial Group during the 3rd quarter valued at about $43,000. Sugarloaf Wealth Management LLC increased its holdings in Principal Financial Group by 53.6% during the 4th 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, Prospera Private Wealth LLC purchased a new stake in Principal Financial Group during the 3rd quarter worth approximately $45,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on PFG. Piper Sandler lifted their price objective on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Royal Bank of Canada restated a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. Wells Fargo & Company lifted their price objective on Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods lifted their price objective on Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley restated an “underweight” rating and set a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Four investment 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Trading Down 0.8 %

NYSE:PFG opened at $83.24 on Wednesday. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.98. The firm has a market capitalization of $18.78 billion, a P/E ratio of 12.46, a P/E/G ratio of 0.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The business has a 50 day simple moving average of $83.28 and a 200 day simple moving average of $83.42.

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 given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.60%. 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%.

Principal Financial Group Company 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.