AlphaQuest LLC Acquires 4,555 Shares of Principal Financial Group, Inc. (NYSE:PFG)

AlphaQuest LLC grew its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 18.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,201 shares of the company’s stock after acquiring an additional 4,555 shares during the period. AlphaQuest LLC’s holdings in Principal Financial Group were worth $2,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Peterson Financial Group Inc. bought a new position in shares of Principal Financial Group in the third quarter worth about $33,000. BankPlus Trust Department bought a new stake in Principal Financial Group during the 4th quarter worth approximately $33,000. Truvestments Capital LLC bought a new stake in Principal Financial Group during the 3rd quarter worth approximately $43,000. Sugarloaf Wealth Management LLC lifted its holdings in Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after purchasing an additional 195 shares in the last quarter. Finally, Prospera Private Wealth LLC bought a new position in shares of Principal Financial Group in the third quarter worth approximately $45,000. 75.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PFG has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price target 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. Morgan Stanley restated an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Piper Sandler boosted their target price on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Barclays lifted their price target on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $85.92.

Principal Financial Group Stock Down 1.2 %

Shares of NYSE PFG opened at $85.61 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The firm has a 50-day simple moving average of $82.56 and a two-hundred day simple moving average of $83.24. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97. The company has a market cap of $19.31 billion, a P/E ratio of 12.82, a PEG ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.50%. Principal Financial Group’s dividend payout ratio (DPR) is presently 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.