Daiwa Securities Group Inc. Acquires 1,772 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Daiwa Securities Group Inc. boosted its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,295 shares of the company’s stock after purchasing an additional 1,772 shares during the period. Daiwa Securities Group Inc.’s holdings in Principal Financial Group were worth $2,268,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Metis Global Partners LLC increased its position in shares of Principal Financial Group by 5.0% in the third quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock valued at $965,000 after acquiring an additional 533 shares during the last quarter. Sanctuary Advisors LLC increased its position in Principal Financial Group by 66.2% during the third quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock worth $2,137,000 after buying an additional 9,933 shares during the last quarter. Legacy Financial Group LLC acquired a new position in Principal Financial Group during the fourth quarter worth approximately $771,000. Columbus Macro LLC increased its position in Principal Financial Group by 46.7% during the fourth quarter. Columbus Macro LLC now owns 25,653 shares of the company’s stock worth $1,986,000 after buying an additional 8,169 shares during the last quarter. Finally, Empowered Funds LLC increased its position in Principal Financial Group by 358.7% during the third quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock worth $1,403,000 after buying an additional 12,768 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PFG has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods boosted 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. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Piper Sandler boosted 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 reiterated 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. 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 note on Wednesday, February 19th. Four research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Stock Performance

NYSE PFG opened at $82.78 on Friday. The firm’s fifty day moving average price is $83.06 and its two-hundred day moving average price is $83.34. The stock has a market cap of $18.67 billion, a PE ratio of 12.39, a PEG ratio of 0.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be issued 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 annualized dividend and a dividend yield of 3.62%. Principal Financial Group’s dividend payout ratio is 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.