State of Alaska Department of Revenue Sells 10,485 Shares of Principal Financial Group, Inc. (NYSE:PFG)

State of Alaska Department of Revenue lowered its stake in shares of Principal Financial Group, Inc. (NYSE:PFGFree Report) by 30.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,994 shares of the company’s stock after selling 10,485 shares during the quarter. State of Alaska Department of Revenue’s holdings in Principal Financial Group were worth $1,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of PFG. AMF Tjanstepension AB boosted its position in shares of Principal Financial Group by 28.7% during the third quarter. AMF Tjanstepension AB now owns 290,723 shares of the company’s stock valued at $24,997,000 after purchasing an additional 64,915 shares in the last quarter. CWM LLC increased its stake in shares of Principal Financial Group by 10.0% in the 3rd quarter. CWM LLC now owns 12,410 shares of the company’s stock worth $1,066,000 after acquiring an additional 1,125 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Principal Financial Group by 2,192.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,980 shares of the company’s stock worth $256,000 after acquiring an additional 2,850 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in Principal Financial Group by 4.7% during the 3rd quarter. Wedge Capital Management L L P NC now owns 24,891 shares of the company’s stock valued at $2,138,000 after acquiring an additional 1,110 shares during the period. Finally, Proquility Private Wealth Partners LLC boosted its stake in Principal Financial Group by 6.3% during the third quarter. Proquility Private Wealth Partners LLC now owns 12,277 shares of the company’s stock worth $1,055,000 after acquiring an additional 730 shares in the last quarter. 75.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PFG has been the subject of several recent research reports. Barclays lifted their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, February 7th. 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 for the company. Piper Sandler increased their target price on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $85.38.

Get Our Latest Research Report on Principal Financial Group

Principal Financial Group Trading Up 1.3 %

Shares of PFG stock opened at $85.45 on Wednesday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97. The stock has a market capitalization of $19.54 billion, a P/E ratio of 12.79, a P/E/G ratio of 0.79 and a beta of 1.22. The firm’s 50 day moving average is $80.02 and its 200 day moving average is $82.04.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio is 43.71%.

Principal Financial Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Principal Financial Group (NYSE:PFG)

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