By otakuyassine3@gmail.com 
Blair William & Co. IL trimmed its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG – Free Report) by 8.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,658 shares of the company’s stock after selling 350 shares during the period. Blair William & Co. IL’s holdings in Principal Financial Group were worth $283,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Principal Financial Group by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock worth $211,534,000 after acquiring an additional 118,722 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Principal Financial Group by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,448,507 shares of the company’s stock worth $112,129,000 after purchasing an additional 44,818 shares during the period. Amundi increased its holdings in shares of Principal Financial Group by 24.1% during the 4th quarter. Amundi now owns 1,359,779 shares of the company’s stock valued at $106,511,000 after purchasing an additional 264,383 shares in the last quarter. Barclays PLC lifted its stake in shares of Principal Financial Group by 12.3% in the 3rd quarter. Barclays PLC now owns 806,672 shares of the company’s stock valued at $69,293,000 after purchasing an additional 88,179 shares during the period. Finally, AustralianSuper Pty Ltd boosted its holdings in Principal Financial Group by 23.2% during the fourth quarter. AustralianSuper Pty Ltd now owns 665,410 shares of the company’s stock worth $51,509,000 after buying an additional 125,198 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.
Principal Financial Group Price Performance
Shares of NYSE PFG opened at $72.94 on Friday. The firm has a 50-day simple moving average of $84.12 and a 200-day simple moving average of $83.67. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $16.45 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.98.
Principal Financial Group Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 4.11%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date was Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) is 44.91%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on PFG shares. Piper Sandler upped their price objective on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Wells Fargo & Company boosted their price objective on Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research report on Wednesday, February 19th. Barclays increased their target price on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, February 7th. Finally, UBS Group boosted their price target on shares of Principal Financial Group from $87.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $86.57.
View Our Latest Stock Analysis on PFG
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.
See Also
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