Transamerica Financial Advisors Inc. Sells 160 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Transamerica Financial Advisors Inc. trimmed its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 4.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,330 shares of the company’s stock after selling 160 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Principal Financial Group were worth $258,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PFG. Curio Wealth LLC acquired a new position in Principal Financial Group in the fourth quarter worth about $29,000. BankPlus Trust Department acquired a new stake in Principal Financial Group during the fourth quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC grew its stake in shares of Principal Financial Group by 53.6% in the 4th 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 in the 4th quarter worth approximately $46,000. Finally, Whipplewood Advisors LLC bought a new position in shares of Principal Financial Group during the 4th quarter worth approximately $54,000. 75.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PFG. Barclays upped their price target on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. 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. Morgan Stanley restated an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Finally, BMO Capital Markets assumed coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price objective for the company. Four 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 MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock opened at $83.06 on Friday. The firm has a 50 day simple moving average of $84.15 and a 200 day simple moving average of $83.66. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.98. 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 cap of $18.74 billion, a P/E ratio of 12.43, a P/E/G ratio of 0.76 and a beta of 1.17.

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 paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Wednesday, March 12th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio is 44.91%.

Principal Financial Group 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.