Daiwa Securities Group Inc. Has $2.27 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Daiwa Securities Group Inc. raised its position in Principal Financial Group, Inc. (NYSE:PFG) by 6.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 29,295 shares of the company’s stock after purchasing an additional 1,772 shares during the period. Daiwa Securities Group Inc.’s holdings in Principal Financial Group were worth $2,268,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PFG. JPMorgan Chase & Co. lifted its holdings in Principal Financial Group by 5.1% in the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock valued at $211,534,000 after buying an additional 118,722 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Principal Financial Group by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,448,507 shares of the company’s stock valued at $112,129,000 after acquiring an additional 44,818 shares during the last quarter. Amundi boosted its position in Principal Financial Group by 24.1% during the fourth quarter. Amundi now owns 1,359,779 shares of the company’s stock valued at $106,511,000 after acquiring an additional 264,383 shares during the last quarter. Barclays PLC boosted its position in Principal Financial Group by 12.3% during the third quarter. Barclays PLC now owns 806,672 shares of the company’s stock valued at $69,293,000 after acquiring an additional 88,179 shares during the last quarter. Finally, AustralianSuper Pty Ltd boosted its position in Principal Financial Group by 23.2% during the fourth quarter. AustralianSuper Pty Ltd now owns 665,410 shares of the company’s stock valued at $51,509,000 after acquiring an additional 125,198 shares during the last quarter. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Price Performance

Shares of NYSE PFG opened at $82.78 on Friday. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. The stock has a market cap of $18.67 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 0.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The firm’s 50-day simple moving average is $83.06 and its 200 day simple moving average is $83.34.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be paid a $0.75 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 annualized dividend and a yield of 3.62%. Principal Financial Group’s dividend payout ratio (DPR) is 44.91%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their price target for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price target 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. Piper Sandler upped their price target 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. Wells Fargo & Company increased their price objective on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. Finally, BMO Capital Markets began 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 price objective on the stock. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Principal Financial Group has a consensus 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.