Curio Wealth LLC Purchases New Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Curio Wealth LLC purchased a new stake 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 purchased 379 shares of the company’s stock, valued at approximately $29,000.

Several other hedge funds have also made changes to their positions in the company. Amundi boosted its stake in shares of Principal Financial Group by 24.1% during the 4th quarter. Amundi now owns 1,359,779 shares of the company’s stock valued at $106,511,000 after buying an additional 264,383 shares during the period. KBC Group NV boosted its stake in shares of Principal Financial Group by 398.4% during the 4th quarter. KBC Group NV now owns 291,379 shares of the company’s stock valued at $22,555,000 after buying an additional 232,915 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Principal Financial Group by 85.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock valued at $40,041,000 after buying an additional 215,045 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Principal Financial Group during the 4th quarter valued at $15,821,000. Finally, Bank of Montreal Can boosted its stake in shares of Principal Financial Group by 41.0% during the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock valued at $43,367,000 after buying an additional 146,473 shares during the period. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of PFG opened at $83.88 on Tuesday. The company’s fifty day moving average price is $83.18 and its 200 day moving average price is $83.41. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.98. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The company has a market capitalization of $18.92 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The business 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 is an increase 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 dividend yield of 3.58%. Principal Financial Group’s payout ratio is presently 44.91%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PFG. Piper Sandler lifted 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 note on Monday, February 10th. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. BMO Capital Markets began coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and an average 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.