B. Metzler seel. Sohn & Co. AG Reduces Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

B. Metzler seel. Sohn & Co. AG cut its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 24.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,458 shares of the company’s stock after selling 6,961 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in Principal Financial Group were worth $1,661,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Public Sector Pension Investment Board lifted its holdings in shares of Principal Financial Group by 1.4% in the third quarter. Public Sector Pension Investment Board now owns 37,141 shares of the company’s stock valued at $3,190,000 after purchasing an additional 500 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in Principal Financial Group in the 3rd quarter valued at approximately $362,000. Benjamin Edwards Inc. acquired a new stake in Principal Financial Group during the 3rd quarter valued at $382,000. Holocene Advisors LP increased its position in Principal Financial Group by 92.6% during the third quarter. Holocene Advisors LP now owns 108,326 shares of the company’s stock worth $9,305,000 after buying an additional 52,077 shares in the last quarter. Finally, Investment Management Corp of Ontario raised its holdings in shares of Principal Financial Group by 47.9% in the third quarter. Investment Management Corp of Ontario now owns 7,720 shares of the company’s stock worth $663,000 after acquiring an additional 2,500 shares during the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. BMO Capital Markets started coverage on Principal Financial Group in a research note on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price objective on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. Piper Sandler upped their price objective 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. Wells Fargo & Company lifted their target price on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Principal Financial Group presently has a consensus rating of “Hold” and an average target price of $86.57.

Principal Financial Group Stock Performance

Principal Financial Group stock opened at $86.19 on Thursday. The company has a market cap of $19.44 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month 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 stock’s 50-day moving average is $84.35 and its 200-day moving average is $83.76.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.48%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date 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.