Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its position in Principal Financial Group, Inc. (NYSE:PFG) by 5.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,300 shares of the company’s stock after selling 700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Principal Financial Group were worth $875,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. KBC Group NV boosted its position in Principal Financial Group by 398.4% during the 4th quarter. KBC Group NV now owns 291,379 shares of the company’s stock worth $22,555,000 after acquiring an additional 232,915 shares during the period. Massachusetts Financial Services Co. MA raised its position in Principal Financial Group by 85.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock valued at $40,041,000 after buying an additional 215,045 shares during the period. Bank of Montreal Can raised its position in Principal Financial Group by 41.0% during the third quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock valued at $43,367,000 after buying an additional 146,473 shares during the period. Mizuho Securities USA LLC increased its position in Principal Financial Group by 818.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock worth $13,112,000 after purchasing an additional 136,021 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Principal Financial Group by 6,593.7% during the 3rd quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock valued at $11,356,000 after acquiring an additional 130,225 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on PFG shares. BMO Capital Markets began coverage on Principal Financial Group in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. Barclays lifted their target price on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods raised their price target on Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler lifted their target price on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Principal Financial Group has a consensus rating of “Hold” and an average target price of $85.54.

Principal Financial Group Price Performance

NYSE:PFG opened at $85.65 on Tuesday. 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 200 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. The stock has a market capitalization of $19.59 billion, a PE ratio of 12.82, a P/E/G ratio of 0.79 and a beta of 1.22.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 3.50%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. Principal Financial Group’s payout ratio is 43.71%.

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.