Pictet Asset Management Holding SA Purchases 22,699 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Pictet Asset Management Holding SA increased its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 18.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 145,275 shares of the company’s stock after acquiring an additional 22,699 shares during the period. Pictet Asset Management Holding SA owned approximately 0.06% of Principal Financial Group worth $11,246,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Curio Wealth LLC purchased a new stake in shares of Principal Financial Group in the 4th quarter valued at about $29,000. BankPlus Trust Department bought a new stake in Principal Financial Group during the fourth quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC lifted its position in Principal Financial Group by 53.6% during 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. Golden State Wealth Management LLC purchased a new position in Principal Financial Group in the 4th quarter worth approximately $46,000. Finally, Whipplewood Advisors LLC bought a new position in shares of Principal Financial Group in the 4th quarter worth $54,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

Shares of NYSE:PFG opened at $86.19 on Thursday. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $84.35 and a 200-day moving average price of $83.76. The company has a market cap of $19.44 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.98.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were issued a $0.75 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $3.00 annualized dividend and a yield of 3.48%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio (DPR) is 44.91%.

Wall Street Analyst Weigh In

PFG has been the subject of several research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a research report on Thursday, January 16th. Keefe, Bruyette & Woods upped 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. Morgan Stanley reissued 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. Piper Sandler upped their target price on Principal Financial Group from $93.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, UBS Group increased their price target on shares of Principal Financial Group from $87.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Principal Financial Group presently has an average rating of “Hold” and a consensus price target of $86.57.

Principal Financial Group 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.