Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by LGT Group Foundation

LGT Group Foundation reduced its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 33.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,000 shares of the company’s stock after selling 3,000 shares during the period. LGT Group Foundation’s holdings in Principal Financial Group were worth $464,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PFG. Farther Finance Advisors LLC increased its position in shares of Principal Financial Group by 4.1% during the third quarter. Farther Finance Advisors LLC now owns 6,584 shares of the company’s stock valued at $566,000 after acquiring an additional 259 shares during the last quarter. Conning Inc. increased its position in shares of Principal Financial Group by 3.6% during the third quarter. Conning Inc. now owns 7,815 shares of the company’s stock valued at $671,000 after acquiring an additional 274 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Principal Financial Group by 15.6% during the third quarter. Janney Montgomery Scott LLC now owns 21,764 shares of the company’s stock valued at $1,870,000 after acquiring an additional 2,933 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Principal Financial Group by 2.9% during the third quarter. Harbor Capital Advisors Inc. now owns 5,091 shares of the company’s stock valued at $437,000 after acquiring an additional 144 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of Principal Financial Group by 15.4% during the third quarter. Asset Management One Co. Ltd. now owns 109,100 shares of the company’s stock valued at $9,372,000 after acquiring an additional 14,588 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Down 0.4 %

Shares of Principal Financial Group stock opened at $88.64 on Tuesday. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.97. The company has a 50 day moving average of $81.90 and a 200 day moving average of $83.04. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $19.99 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.76 and a beta of 1.22.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.38%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s payout ratio is currently 44.91%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PFG. Royal Bank of Canada reiterated a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a research report on Thursday, January 16th. Piper Sandler raised 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 note on Monday, February 10th. Barclays raised their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. Morgan Stanley reissued an “underweight” rating and issued a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Finally, Keefe, Bruyette & Woods raised their price objective 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. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $85.92.

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.