DMKC Advisory Services LLC Acquires New Holdings in Principal Financial Group, Inc. (NYSE:PFG)

DMKC Advisory Services LLC bought a new position in Principal Financial Group, Inc. (NYSE:PFG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 60,749 shares of the company’s stock, valued at approximately $4,703,000. Principal Financial Group comprises about 4.3% of DMKC Advisory Services LLC’s investment portfolio, making the stock its 4th largest position.

Several other large investors also recently made changes to their positions in the company. Peterson Financial Group Inc. acquired a new position in shares of Principal Financial Group during the third quarter worth approximately $33,000. BankPlus Trust Department acquired a new position in Principal Financial Group during the 4th quarter worth $33,000. Truvestments Capital LLC bought a new position in shares of Principal Financial Group in the third quarter worth $43,000. Prospera Private Wealth LLC acquired a new position in shares of Principal Financial Group during the third quarter valued at $45,000. Finally, Sugarloaf Wealth Management LLC raised its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Trading Up 0.3 %

NYSE:PFG opened at $85.36 on Wednesday. The stock has a fifty day simple moving average of $80.97 and a 200 day simple moving average of $82.70. The firm has a market capitalization of $19.25 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 0.76 and a beta of 1.22. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.97. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.51%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) is presently 44.91%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Piper Sandler increased their target price on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Barclays increased their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, February 7th. Morgan Stanley reissued an “underweight” rating and set a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Wells Fargo & Company increased 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. Finally, BMO Capital Markets assumed coverage on Principal Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price target on the stock. Four equities 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $85.92.

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.