Jones Financial Companies Lllp Buys 6,731 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Jones Financial Companies Lllp increased its stake in Principal Financial Group, Inc. (NYSE:PFG) by 151.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,161 shares of the company’s stock after buying an additional 6,731 shares during the quarter. Jones Financial Companies Lllp’s holdings in Principal Financial Group were worth $864,000 as of its most recent SEC filing.

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

Principal Financial Group Price Performance

PFG opened at $85.61 on Friday. The business’s 50-day moving average is $82.56 and its two-hundred day moving average is $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 debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The firm has a market capitalization of $19.31 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The business 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 represents a $3.00 annualized dividend and a yield of 3.50%. The ex-dividend date is Wednesday, March 12th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s payout ratio is 44.91%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Piper Sandler lifted their target price on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Barclays lifted their target price on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. upgraded 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 note on Tuesday, January 7th. Wells Fargo & Company raised their price target on Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley restated an “underweight” rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Principal Financial Group 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.