Principal Financial Group, Inc. (NYSE:PFG) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. increased its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 2.5% during the 4th quarter, HoldingsChannel reports. The fund owned 20,005 shares of the company’s stock after acquiring an additional 488 shares during the quarter. Federated Hermes Inc.’s holdings in Principal Financial Group were worth $1,549,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. increased its stake in Principal Financial Group by 4.9% during the fourth quarter. Russell Investments Group Ltd. now owns 149,743 shares of the company’s stock worth $11,589,000 after acquiring an additional 7,024 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Principal Financial Group by 8.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 43,726 shares of the company’s stock worth $3,385,000 after purchasing an additional 3,426 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Principal Financial Group by 71.7% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 4,481 shares of the company’s stock worth $347,000 after purchasing an additional 1,871 shares during the last quarter. Aviva PLC raised its holdings in Principal Financial Group by 14.4% in the 4th quarter. Aviva PLC now owns 139,485 shares of the company’s stock valued at $10,798,000 after buying an additional 17,536 shares during the period. Finally, Resona Asset Management Co. Ltd. acquired a new position in Principal Financial Group in the fourth quarter valued at about $5,460,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a research report on Thursday, January 16th. Wells Fargo & Company cut their target price on Principal Financial Group from $74.00 to $68.00 and set an “underweight” rating on the stock in a research report on Thursday, April 10th. Keefe, Bruyette & Woods raised their price target on Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. BMO Capital Markets started coverage on Principal Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective on the stock. Finally, UBS Group increased their target price on Principal Financial Group from $87.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 2nd. 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 company. Based on data from MarketBeat.com, Principal Financial Group has a consensus rating of “Hold” and an average price target of $84.69.

Principal Financial Group Stock Up 1.1 %

Shares of Principal Financial Group stock opened at $73.43 on Tuesday. 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, Inc. has a 52-week low of $68.39 and a 52-week high of $91.98. The company has a market capitalization of $16.52 billion, a P/E ratio of 10.99, a P/E/G ratio of 0.76 and a beta of 1.01. The company has a 50 day moving average of $82.65 and a 200 day moving average of $82.97.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were given a dividend of $0.75 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Wednesday, March 12th. Principal Financial Group’s payout ratio is 44.91%.

Principal Financial Group 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.