Principal Financial Group, Inc. (NYSE:PFG) Shares Acquired by Huntington National Bank

Huntington National Bank increased its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 25.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,210 shares of the company’s stock after acquiring an additional 661 shares during the quarter. Huntington National Bank’s holdings in Principal Financial Group were worth $248,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Harbor Capital Advisors Inc. grew its holdings in shares of Principal Financial Group by 2.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock worth $404,000 after buying an additional 132 shares during the last quarter. Leavell Investment Management Inc. grew its stake in shares of Principal Financial Group by 5.4% in the 4th quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock valued at $208,000 after purchasing an additional 138 shares during the last quarter. CENTRAL TRUST Co increased its holdings in shares of Principal Financial Group by 9.6% in the fourth quarter. CENTRAL TRUST Co now owns 1,730 shares of the company’s stock valued at $134,000 after purchasing an additional 151 shares during the period. Cidel Asset Management Inc. raised its stake in shares of Principal Financial Group by 6.3% during the fourth quarter. Cidel Asset Management Inc. now owns 2,636 shares of the company’s stock worth $204,000 after purchasing an additional 156 shares during the last quarter. Finally, Hartford Funds Management Co LLC lifted its holdings in shares of Principal Financial Group by 1.5% during the fourth quarter. Hartford Funds Management Co LLC now owns 11,241 shares of the company’s stock worth $870,000 after purchasing an additional 161 shares during the period. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Principal Financial Group stock opened at $72.94 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.98. The stock’s 50 day moving average price is $84.12 and its 200 day moving average price is $83.67. The firm has a market capitalization of $16.45 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend was Wednesday, March 12th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio is 44.91%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their target price on Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. Piper Sandler raised their price target on Principal Financial Group from $93.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday. BMO Capital Markets started coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price target on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $86.57.

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.