Principal Financial Group, Inc. (NYSE:PFG) Stake Decreased by Venturi Wealth Management LLC

Venturi Wealth Management LLC decreased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 69.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 376 shares of the company’s stock after selling 850 shares during the period. Venturi Wealth Management LLC’s holdings in Principal Financial Group were worth $29,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Peterson Financial Group Inc. acquired a new position in shares of Principal Financial Group during the 3rd quarter valued at $33,000. Truvestments Capital LLC bought a new position in Principal Financial Group during the third quarter valued at about $43,000. Sugarloaf Wealth Management LLC grew its holdings in Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after acquiring an additional 195 shares during the period. Prospera Private Wealth LLC bought a new stake in Principal Financial Group in the third quarter worth about $45,000. Finally, Golden State Wealth Management LLC acquired a new stake in Principal Financial Group in the 4th quarter valued at about $46,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Performance

PFG opened at $85.36 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The company has a market cap of $19.25 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 0.76 and a beta of 1.22. The stock has a 50-day moving average of $80.97 and a 200-day moving average of $82.70. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.97.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.51%. The ex-dividend date is Wednesday, March 12th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio (DPR) is 44.91%.

Analyst Ratings Changes

PFG has been the topic of several recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a research note on Thursday, January 16th. Wells Fargo & Company increased their target price on Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, February 19th. Barclays increased their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, February 7th. Piper Sandler upped their price target on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Keefe, Bruyette & Woods lifted their price objective on Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Principal Financial Group presently has a consensus rating of “Hold” and an average price target of $85.92.

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.