Principal Financial Group, Inc. (NYSE:PFG) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,194 shares of the company’s stock after buying an additional 489 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Principal Financial Group were worth $1,873,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Peterson Financial Group Inc. acquired a new stake in shares of Principal Financial Group during the 3rd quarter valued at approximately $33,000. Truvestments Capital LLC acquired a new position in Principal Financial Group during the third quarter worth $43,000. Prospera Private Wealth LLC purchased a new stake in Principal Financial Group during the third quarter worth $45,000. Sugarloaf Wealth Management LLC grew 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 purchasing an additional 195 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Principal Financial Group in the third quarter valued at $50,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PFG shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a research note on Thursday, January 16th. Wells Fargo & Company lowered their price target on shares of 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. Keefe, Bruyette & Woods cut their price objective on Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. BMO Capital Markets began coverage on Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price on the stock. Finally, Piper Sandler boosted their price target on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday. Four 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 has an average rating of “Hold” and an average target price of $85.38.

Principal Financial Group Price Performance

PFG opened at $84.38 on Tuesday. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The company’s 50 day simple moving average is $80.04 and its 200 day simple moving average is $82.04. The stock has a market capitalization of $19.30 billion, a PE ratio of 12.63, a P/E/G ratio of 0.79 and a beta of 1.22.

Principal Financial Group Increases Dividend

The company also recently disclosed 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. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.56%. 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 43.71%.

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.