Farmers & Merchants Investments Inc. Sells 393 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Farmers & Merchants Investments Inc. reduced its position in Principal Financial Group, Inc. (NYSE:PFG) by 8.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,137 shares of the company’s stock after selling 393 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Principal Financial Group were worth $320,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Peterson Financial Group Inc. purchased a new position in shares of Principal Financial Group during the 3rd quarter valued at $33,000. Truvestments Capital LLC purchased a new position in Principal Financial Group during the third quarter worth about $43,000. Sugarloaf Wealth Management LLC increased its stake in Principal Financial Group by 53.6% in the 4th 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 last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Principal Financial Group in the 3rd quarter valued at about $45,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Principal Financial Group during the 4th quarter valued at about $46,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Price Performance

Shares of PFG opened at $82.33 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The company has a 50 day moving average price of $80.04 and a 200-day moving average price of $82.07. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. The stock has a market capitalization of $18.83 billion, a PE ratio of 11.46, a PEG ratio of 0.79 and a beta of 1.22.

Principal Financial Group Increases Dividend

The firm also recently declared 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. 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 3.64%. Principal Financial Group’s dividend payout ratio (DPR) is currently 43.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PFG shares. Piper Sandler upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 target price for the company in a research report on Wednesday, December 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. Morgan Stanley reissued an “underweight” rating and issued a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Wells Fargo & Company dropped their price target on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Finally, Barclays raised their price objective on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a report on Friday. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and a consensus target price of $85.15.

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.