Tower Research Capital LLC TRC Has $1.35 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Tower Research Capital LLC TRC lifted its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,485 shares of the company’s stock after purchasing an additional 324 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Principal Financial Group were worth $1,354,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Curio Wealth LLC bought a new position in shares of Principal Financial Group in the fourth quarter valued at $29,000. BankPlus Trust Department bought a new position in Principal Financial Group in the 4th quarter valued at about $33,000. Covestor Ltd boosted its stake in Principal Financial Group by 144.3% during the 4th quarter. Covestor Ltd now owns 540 shares of the company’s stock valued at $42,000 after purchasing an additional 319 shares during the last quarter. Sugarloaf Wealth Management LLC increased its holdings in Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after purchasing an additional 195 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of Principal Financial Group in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Trading Up 1.6 %

Shares of PFG opened at $74.04 on Thursday. The firm has a market cap of $16.66 billion, a P/E ratio of 11.08, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.98. 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 business has a 50-day moving average of $80.98 and a 200 day moving average of $82.36.

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 a boost from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend was Wednesday, March 12th. Principal Financial Group’s dividend payout ratio is presently 44.91%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PFG. Morgan Stanley dropped their price objective on Principal Financial Group from $77.00 to $65.00 and set an “underweight” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company reduced their price objective on shares of Principal Financial Group from $74.00 to $68.00 and set an “underweight” rating for the company in a research report on Thursday, April 10th. UBS Group lifted their target price on shares of Principal Financial Group from $87.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 2nd. Piper Sandler upped their target price on Principal Financial Group from $93.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Four equities 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $84.69.

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.