Stratos Wealth Partners LTD. Cuts Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Stratos Wealth Partners LTD. lessened its stake in Principal Financial Group, Inc. (NYSE:PFG) by 19.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,682 shares of the company’s stock after selling 916 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Principal Financial Group were worth $285,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PFG. Peterson Financial Group Inc. purchased a new stake in shares of Principal Financial Group during the 3rd quarter worth approximately $33,000. Truvestments Capital LLC acquired a new stake in Principal Financial Group during the 3rd quarter worth $43,000. Sugarloaf Wealth Management LLC grew its stake 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 buying an additional 195 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in Principal Financial Group in the third quarter valued at $45,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Principal Financial Group in the third quarter valued at about $50,000. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Stock Up 2.4 %

PFG opened at $86.95 on Friday. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97. The firm has a 50 day moving average price of $80.04 and a 200 day moving average price of $82.09. The company has a market cap of $19.89 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 0.79 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be given 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 3.45%. The ex-dividend date is Wednesday, March 12th. Principal Financial Group’s payout ratio is presently 43.71%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PFG. Piper Sandler boosted their target price on Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a report on Monday. Barclays raised 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. Keefe, Bruyette & Woods boosted their price objective on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday. Morgan Stanley restated an “underweight” rating and set a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price target for the company 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 issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $85.54.

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.