Blair William & Co. IL Sells 350 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Blair William & Co. IL decreased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,658 shares of the company’s stock after selling 350 shares during the quarter. Blair William & Co. IL’s holdings in Principal Financial Group were worth $283,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. NEOS Investment Management LLC boosted its holdings in shares of Principal Financial Group by 29.0% in the fourth quarter. NEOS Investment Management LLC now owns 11,044 shares of the company’s stock valued at $855,000 after purchasing an additional 2,484 shares during the period. Elo Mutual Pension Insurance Co increased its stake in shares of Principal Financial Group by 12.8% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 23,384 shares of the company’s stock valued at $1,810,000 after buying an additional 2,656 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Principal Financial Group by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 353,846 shares of the company’s stock valued at $27,568,000 after acquiring an additional 14,484 shares in the last quarter. Weaver C. Barksdale & Associates Inc. lifted its stake in Principal Financial Group by 13.7% in the fourth quarter. Weaver C. Barksdale & Associates Inc. now owns 22,900 shares of the company’s stock worth $1,774,000 after acquiring an additional 2,760 shares during the period. Finally, LPL Financial LLC grew its holdings in Principal Financial Group by 4.4% during the 4th quarter. LPL Financial LLC now owns 106,747 shares of the company’s stock worth $8,263,000 after acquiring an additional 4,478 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Trading Down 8.0 %

NYSE PFG opened at $72.94 on Friday. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.98. The company has a fifty day simple moving average of $84.12 and a two-hundred day simple moving average of $83.67. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The stock has a market cap of $16.45 billion, a P/E ratio of 10.92, a P/E/G ratio of 0.76 and a beta of 1.01.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were paid a $0.75 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date was Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 4.11%. Principal Financial Group’s dividend payout ratio (DPR) is 44.91%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PFG shares. UBS Group upped their price target on shares of Principal Financial Group from $87.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday. Piper Sandler increased their target price on Principal Financial Group from $93.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Royal Bank of Canada reaffirmed 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. Finally, BMO Capital Markets started coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 target price for the company. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $86.57.

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.