Sequoia Financial Advisors LLC Buys 1,818 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Sequoia Financial Advisors LLC lifted its position in Principal Financial Group, Inc. (NYSE:PFG) by 64.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,630 shares of the company’s stock after purchasing an additional 1,818 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Principal Financial Group were worth $358,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sanctuary Advisors LLC lifted its position in shares of Principal Financial Group by 66.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock worth $2,137,000 after buying an additional 9,933 shares during the period. Legacy Financial Group LLC acquired a new stake in Principal Financial Group in the fourth quarter worth about $771,000. Columbus Macro LLC grew its position in shares of Principal Financial Group by 46.7% during the 4th quarter. Columbus Macro LLC now owns 25,653 shares of the company’s stock worth $1,986,000 after buying an additional 8,169 shares during the period. Empowered Funds LLC raised its position in shares of Principal Financial Group by 358.7% during the 3rd quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock valued at $1,403,000 after acquiring an additional 12,768 shares during the last quarter. Finally, Lecap Asset Management Ltd. increased its holdings in Principal Financial Group by 135.6% in the fourth quarter. Lecap Asset Management Ltd. now owns 22,469 shares of the company’s stock valued at $1,739,000 after purchasing an additional 12,933 shares during the last quarter. 75.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PFG has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Barclays raised their price target on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Piper Sandler lifted their price objective 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. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th. 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 presently has an average rating of “Hold” and an average price target of $85.92.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $83.24 on Wednesday. The stock’s fifty day moving average price is $83.28 and its two-hundred day moving average price is $83.42. The firm has a market cap of $18.78 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.98.

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 dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.60%. This is an increase 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 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.