Chevy Chase Trust Holdings LLC Decreases Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Chevy Chase Trust Holdings LLC cut its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,423 shares of the company’s stock after selling 3,814 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Principal Financial Group were worth $8,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Peterson Financial Group Inc. bought a new stake in shares of Principal Financial Group in the third quarter worth about $33,000. Truvestments Capital LLC bought a new stake in shares of Principal Financial Group in the third quarter worth about $43,000. Sugarloaf Wealth Management LLC grew its stake in shares of Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after purchasing an additional 195 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Principal Financial Group in the third quarter worth about $45,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Principal Financial Group in the fourth quarter worth about $46,000. 75.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wells Fargo & Company cut their price objective on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. BMO Capital Markets assumed coverage on Principal Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price objective on the stock. Barclays lifted their price objective 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 Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Finally, Piper Sandler lifted their price objective on Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $85.54.

Principal Financial Group Price Performance

Shares of PFG opened at $85.65 on Tuesday. The firm has a market cap of $19.59 billion, a PE ratio of 12.82, a P/E/G ratio of 0.79 and a beta of 1.22. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $80.13 and a two-hundred day simple moving average of $82.16. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.97.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a yield of 3.50%. Principal Financial Group’s payout ratio is currently 43.71%.

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.