Rhumbline Advisers Has $33.96 Million Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Rhumbline Advisers decreased its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 438,647 shares of the company’s stock after selling 25,776 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of Principal Financial Group worth $33,956,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. 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 worth $22,555,000 after acquiring an additional 232,915 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Principal Financial Group by 85.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock worth $40,041,000 after purchasing an additional 215,045 shares during the last quarter. Bank of Montreal Can lifted its holdings in Principal Financial Group by 41.0% in the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after purchasing an additional 146,473 shares during the last quarter. Mizuho Securities USA LLC boosted its position in Principal Financial Group by 818.1% during the third quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock worth $13,112,000 after purchasing an additional 136,021 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in Principal Financial Group by 6,593.7% during the third quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock valued at $11,356,000 after purchasing an additional 130,225 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Morgan Stanley restated an “underweight” rating and set a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Barclays lifted their price objective on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, February 7th. BMO Capital Markets assumed coverage on Principal Financial Group in a research note on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price for the company. Finally, Keefe, Bruyette & Woods raised their target price on Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $85.54.

Principal Financial Group Trading Up 1.1 %

Shares of PFG stock opened at $86.60 on Wednesday. The firm has a fifty day moving average of $80.19 and a 200-day moving average of $82.20. The stock has a market cap of $19.81 billion, a price-to-earnings ratio of 12.96, a P/E/G ratio of 0.79 and a beta of 1.22. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.75 per share. 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. This represents a $3.00 dividend on an annualized basis and a yield of 3.46%. Principal Financial Group’s dividend payout ratio (DPR) is currently 43.71%.

Principal Financial Group Company Profile

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.