127,000 Shares in Principal Financial Group, Inc. (NYSE:PFG) Acquired by APG Asset Management N.V.

APG Asset Management N.V. purchased a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 127,000 shares of the company’s stock, valued at approximately $9,494,000. APG Asset Management N.V. owned approximately 0.06% of Principal Financial Group as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Curio Wealth LLC purchased a new position in shares of Principal Financial Group in the 4th quarter valued at $29,000. BankPlus Trust Department purchased a new position in Principal Financial Group in the fourth quarter valued at about $33,000. Sugarloaf Wealth Management LLC raised its position in Principal Financial Group by 53.6% in 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 during the period. Golden State Wealth Management LLC acquired a new position in shares of Principal Financial Group during the fourth quarter worth about $46,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Principal Financial Group in the fourth quarter worth about $54,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PFG. UBS Group boosted their price target on Principal Financial Group from $87.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 2nd. Royal Bank of Canada reissued a “sector perform” rating and set a $91.00 target price on shares of Principal Financial Group in a research report on Thursday, January 16th. Piper Sandler upped their target price on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Barclays lifted 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. Finally, Morgan Stanley decreased their price objective on shares of Principal Financial Group from $77.00 to $65.00 and set an “underweight” rating for the company in a research report on Thursday. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $85.07.

Principal Financial Group Stock Down 6.9 %

NYSE:PFG opened at $71.96 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The company has a market capitalization of $16.23 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a one year low of $68.39 and a one year high of $91.98. The stock has a 50-day simple moving average of $82.95 and a 200 day simple moving average of $83.16.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.17%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Wednesday, March 12th. Principal Financial Group’s payout ratio is 44.91%.

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.