Brown Brothers Harriman & Co. increased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG – Free Report) by 7.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,006 shares of the company’s stock after purchasing an additional 218 shares during the period. Brown Brothers Harriman & Co.’s holdings in Principal Financial Group were worth $258,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of the stock. Daiwa Securities Group Inc. boosted its position in shares of Principal Financial Group by 1.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 27,523 shares of the company’s stock worth $2,364,000 after purchasing an additional 457 shares during the period. Larson Financial Group LLC grew its position in Principal Financial Group by 132.8% during the 3rd quarter. Larson Financial Group LLC now owns 675 shares of the company’s stock worth $58,000 after purchasing an additional 385 shares during the last quarter. Sompo Asset Management Co. Ltd. boosted its holdings in shares of Principal Financial Group by 5.6% in the third quarter. Sompo Asset Management Co. Ltd. now owns 6,820 shares of the company’s stock valued at $586,000 after acquiring an additional 360 shares in the last quarter. Palisade Asset Management LLC boosted its holdings in Principal Financial Group by 2.1% during the third quarter. Palisade Asset Management LLC now owns 6,946 shares of the company’s stock worth $597,000 after buying an additional 146 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in Principal Financial Group by 12.3% during the third quarter. Cerity Partners LLC now owns 30,042 shares of the company’s stock worth $2,581,000 after buying an additional 3,281 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.
Principal Financial Group Trading Up 0.6 %
PFG stock opened at $87.28 on Thursday. Principal Financial Group, Inc. has a one year low of $71.39 and a one year high of $91.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market cap of $19.96 billion, a price-to-earnings ratio of -96.98, a price-to-earnings-growth ratio of 1.01 and a beta of 1.20. The company has a fifty day moving average price of $86.35 and a two-hundred day moving average price of $82.42.
Principal Financial Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio (DPR) is currently -324.44%.
Analyst Ratings Changes
A number of research firms have recently weighed in on PFG. Barclays boosted their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Royal Bank of Canada upped their price target on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. Morgan Stanley dropped their target price on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Piper Sandler increased their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their price target on shares of Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $85.92.
Check Out Our Latest Research Report on Principal Financial Group
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.
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