Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in Principal Financial Group, Inc. (NYSE:PFG) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,743 shares of the company’s stock after selling 1,638 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Principal Financial Group were worth $3,464,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PFG. Curio Wealth LLC acquired a new position in shares of Principal Financial Group in the fourth quarter valued at approximately $29,000. BankPlus Trust Department acquired a new position in Principal Financial Group during the fourth quarter worth $33,000. Truvestments Capital LLC acquired a new position in Principal Financial Group during the third quarter worth $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. Finally, Golden State Wealth Management LLC acquired a new position in Principal Financial Group during the fourth quarter worth $46,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Down 1.0 %

Shares of NYSE:PFG opened at $83.26 on Monday. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.98. The stock’s fifty day simple moving average is $83.65 and its 200-day simple moving average is $83.48. The company has a market capitalization of $18.78 billion, a P/E ratio of 12.46, a P/E/G ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be given a $0.75 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio is currently 44.91%.

Analyst Upgrades and Downgrades

PFG has been the topic of a number of recent analyst reports. 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. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Wells Fargo & Company upped their price objective on Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a report on Wednesday, February 19th. BMO Capital Markets assumed coverage on Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price objective on the stock. Finally, Barclays upped their target price on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, February 7th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $85.92.

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.