Strategic Financial Concepts LLC Makes New $2.99 Million Investment in Principal Financial Group, Inc. (NYSE:PFG)

Strategic Financial Concepts LLC purchased a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 38,600 shares of the company’s stock, valued at approximately $2,988,000.

A number of other hedge funds have also recently modified their holdings of the company. Peterson Financial Group Inc. acquired a new position in Principal Financial Group in the 3rd quarter valued at about $33,000. Truvestments Capital LLC acquired a new position in Principal Financial Group in the third quarter valued at approximately $43,000. Sugarloaf Wealth Management LLC lifted its holdings in Principal Financial Group by 53.6% in 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 during the last quarter. Prospera Private Wealth LLC purchased a new position in Principal Financial Group in the third quarter worth approximately $45,000. Finally, Capital Performance Advisors LLP acquired a new stake in Principal Financial Group during the third quarter worth $50,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Up 2.9 %

NYSE:PFG opened at $82.33 on Monday. The stock has a fifty day moving average price of $80.04 and a 200 day moving average price of $82.05. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97. The firm has a market cap 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. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.75 per share. The ex-dividend date 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 currently 43.71%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PFG. Royal Bank of Canada reiterated a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. Piper Sandler raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 target price for the company in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods reduced their price target on shares of Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Barclays increased their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday. Finally, Wells Fargo & Company cut their target price on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $85.15.

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.