Strategic Financial Concepts LLC Takes Position in Principal Financial Group, Inc. (NYSE:PFG)

Strategic Financial Concepts LLC bought a new position in shares of Principal Financial Group, Inc. (NYSE:PFG) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 38,600 shares of the company’s stock, valued at approximately $2,988,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. bought a new position in shares of Principal Financial Group in the third quarter valued at approximately $33,000. Truvestments Capital LLC acquired a new stake in Principal Financial Group during the 3rd quarter valued at $43,000. Prospera Private Wealth LLC bought a new position in Principal Financial Group in the 3rd quarter valued at $45,000. Sugarloaf Wealth Management LLC boosted its stake in Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after purchasing an additional 195 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Principal Financial Group during the third quarter worth $50,000. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Trading Down 1.5 %

NYSE:PFG opened at $85.65 on Monday. 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 1-year low of $72.21 and a 1-year high of $91.97. The firm has a market capitalization of $19.59 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.79 and a beta of 1.22. The business’s 50-day moving average price is $80.13 and its two-hundred day moving average price is $82.15.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be paid a dividend of $0.75 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $3.00 annualized dividend and a yield of 3.50%. Principal Financial Group’s dividend payout ratio (DPR) is presently 43.71%.

Analyst Upgrades and Downgrades

PFG has been the subject of a number of research analyst reports. BMO Capital Markets began coverage on Principal Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price target for the company. Morgan Stanley reiterated an “underweight” rating and set a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a research note on Thursday, January 16th. Barclays boosted 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, February 7th. Finally, Piper Sandler increased their price objective on Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $85.54.

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.