Vanguard Group Inc. Trims Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Vanguard Group Inc. decreased its stake in Principal Financial Group, Inc. (NYSE:PFG) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,430,527 shares of the company’s stock after selling 75,419 shares during the quarter. Vanguard Group Inc. owned approximately 11.99% of Principal Financial Group worth $2,123,397,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Curio Wealth LLC purchased a new stake in Principal Financial Group in the 4th quarter worth approximately $29,000. BankPlus Trust Department acquired a new position in shares of Principal Financial Group in the 4th quarter valued at $33,000. Truvestments Capital LLC purchased a new stake in Principal Financial Group during the third quarter worth $43,000. Sugarloaf Wealth Management LLC grew its position in Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after buying an additional 195 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in Principal Financial Group in the fourth quarter valued at $46,000. 75.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PFG shares. Royal Bank of Canada restated a “sector perform” rating and set a $91.00 target price on shares of Principal Financial Group in a research report on Thursday, January 16th. Piper Sandler boosted their price objective on Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Wells Fargo & Company upped their target price on Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 19th. Morgan Stanley reissued an “underweight” rating and issued a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of 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. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $85.92.

Principal Financial Group Stock Down 0.1 %

Shares of NYSE PFG opened at $85.60 on Thursday. The stock has a market cap of $19.31 billion, a PE ratio of 12.81, a P/E/G ratio of 0.76 and a beta of 1.17. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.98. The company has a 50-day moving average of $84.05 and a 200 day moving average of $83.59.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.50%. 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 (DPR) is currently 44.91%.

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.