Sentry Investment Management LLC Purchases New Position in Principal Financial Group, Inc. (NYSE:PFG)

Sentry Investment Management LLC acquired a new position in Principal Financial Group, Inc. (NYSE:PFG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 816 shares of the company’s stock, valued at approximately $63,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BankPlus Trust Department bought a new stake in shares of Principal Financial Group in the 4th quarter worth $33,000. IFP Advisors Inc boosted its position in shares of Principal Financial Group by 20.5% during the fourth quarter. IFP Advisors Inc now owns 10,177 shares of the company’s stock valued at $789,000 after buying an additional 1,729 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Principal Financial Group in the 4th quarter worth about $908,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Principal Financial Group by 4.0% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 107,751 shares of the company’s stock worth $8,341,000 after buying an additional 4,100 shares during the last quarter. Finally, ING Groep NV bought a new position in Principal Financial Group during the 4th quarter valued at about $776,000. 75.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 19th. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price for the company. Piper Sandler raised their price target on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods upped their price objective on Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $80.00 target price (down previously 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $85.92.

Principal Financial Group Stock Performance

NYSE:PFG opened at $87.53 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The stock has a 50-day simple moving average of $81.44 and a two-hundred day simple moving average of $82.75. The firm has a market capitalization of $19.74 billion, a PE ratio of 13.10, a P/E/G ratio of 0.76 and a beta of 1.22. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.97.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.43%. This is a positive change 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 currently 44.91%.

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.