Blueshift Asset Management LLC Buys 3,093 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Blueshift Asset Management LLC raised its stake in Principal Financial Group, Inc. (NYSE:PFG) by 76.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,152 shares of the company’s stock after acquiring an additional 3,093 shares during the quarter. Blueshift Asset Management LLC’s holdings in Principal Financial Group were worth $554,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Curio Wealth LLC bought a new position in Principal Financial Group in the 4th quarter valued at approximately $29,000. BankPlus Trust Department bought a new position in Principal Financial Group in the 4th quarter valued at approximately $33,000. Truvestments Capital LLC bought a new position in Principal Financial Group in the 3rd quarter valued at approximately $43,000. Sugarloaf Wealth Management LLC raised its holdings in Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after buying an additional 195 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new position in Principal Financial Group in the 3rd quarter valued at approximately $45,000. Institutional investors own 75.08% of the company’s stock.

Wall Street Analyst Weigh In

PFG has been the subject of a number of research reports. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Barclays increased their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, February 7th. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price for the company. Piper Sandler increased 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 report on Monday, February 10th. Finally, Keefe, Bruyette & Woods increased 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 research report on Wednesday, February 12th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Principal Financial Group currently has a consensus rating of “Hold” and an average price target of $85.92.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $84.13 on Friday. The company has a market cap of $18.98 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.98. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $83.51 and a 200-day moving average of $83.43.

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 given 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 3.57%. Principal Financial Group’s dividend payout ratio (DPR) is 44.91%.

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.