Mizuho Securities USA LLC Raises Stake in Principal Financial Group, Inc. (NYSE:PFG)

Mizuho Securities USA LLC increased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 44.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,944 shares of the company’s stock after buying an additional 6,128 shares during the period. Mizuho Securities USA LLC’s holdings in Principal Financial Group were worth $1,544,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in shares of Principal Financial Group by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock worth $211,534,000 after purchasing an additional 118,722 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Principal Financial Group by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,448,507 shares of the company’s stock worth $112,129,000 after buying an additional 44,818 shares during the last quarter. Amundi increased its position in Principal Financial Group by 24.1% in the fourth quarter. Amundi now owns 1,359,779 shares of the company’s stock worth $106,511,000 after buying an additional 264,383 shares during the last quarter. Barclays PLC raised its stake in shares of Principal Financial Group by 12.3% in the third quarter. Barclays PLC now owns 806,672 shares of the company’s stock valued at $69,293,000 after buying an additional 88,179 shares during the period. Finally, AustralianSuper Pty Ltd lifted its position in shares of Principal Financial Group by 23.2% during the 4th quarter. AustralianSuper Pty Ltd now owns 665,410 shares of the company’s stock valued at $51,509,000 after buying an additional 125,198 shares during the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $85.67 on Wednesday. The business has a 50-day simple moving average of $83.94 and a 200 day simple moving average of $83.58. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.98. The stock has a market cap of $19.32 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.76 and a beta of 1.17. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.50%. 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. Principal Financial Group’s dividend payout ratio is 44.91%.

Analysts Set New Price Targets

PFG has been the subject of several recent research reports. Morgan Stanley reissued 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. Keefe, Bruyette & Woods boosted 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. Wells Fargo & Company upped their price target on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Finally, Piper Sandler boosted their target price on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Four analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Principal Financial Group currently has a consensus rating of “Hold” and a consensus price target of $85.92.

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.