Virtu Financial LLC Takes $271,000 Position in Principal Financial Group, Inc. (NYSE:PFG)

Virtu Financial LLC acquired a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,500 shares of the company’s stock, valued at approximately $271,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. increased its position in shares of Principal Financial Group by 2.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock valued at $404,000 after purchasing an additional 132 shares during the last quarter. Leavell Investment Management Inc. grew its position in Principal Financial Group by 5.4% during the fourth quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock valued at $208,000 after buying an additional 138 shares during the period. CENTRAL TRUST Co increased its holdings in Principal Financial Group by 9.6% during the fourth quarter. CENTRAL TRUST Co now owns 1,730 shares of the company’s stock valued at $134,000 after buying an additional 151 shares during the last quarter. Cidel Asset Management Inc. raised its position in Principal Financial Group by 6.3% in the fourth quarter. Cidel Asset Management Inc. now owns 2,636 shares of the company’s stock worth $204,000 after acquiring an additional 156 shares during the period. Finally, Hartford Funds Management Co LLC boosted its stake in shares of Principal Financial Group by 1.5% during the 4th quarter. Hartford Funds Management Co LLC now owns 11,241 shares of the company’s stock worth $870,000 after acquiring an additional 161 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on PFG. Morgan Stanley reaffirmed an “underweight” rating and issued a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th. Piper Sandler lifted their price target 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. Finally, Wells Fargo & Company raised their price objective on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a sell rating, six have given 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, the company has an average rating of “Hold” and an average target price of $85.92.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock opened at $83.06 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.98. The stock has a 50 day moving average of $84.15 and a 200 day moving average of $83.63. The firm has a market cap of $18.74 billion, a PE ratio of 12.43, a PEG ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were paid 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 was Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.61%. Principal Financial Group’s dividend payout ratio is presently 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.