Tredje AP fonden Has $1.46 Million Stake in Principal Financial Group, Inc. (NYSE:PFG)

Tredje AP fonden decreased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 50.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 18,842 shares of the company’s stock after selling 18,841 shares during the period. Tredje AP fonden’s holdings in Principal Financial Group were worth $1,459,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Peterson Financial Group Inc. acquired a new stake in Principal Financial Group in the 3rd quarter valued at $33,000. BankPlus Trust Department acquired a new stake in Principal Financial Group in the 4th quarter valued at $33,000. Truvestments Capital LLC acquired a new stake in Principal Financial Group in the 3rd quarter valued at $43,000. Sugarloaf Wealth Management LLC grew its position in Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after purchasing an additional 195 shares during the period. Finally, Prospera Private Wealth LLC acquired a new stake in Principal Financial Group in the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Analyst Ratings Changes

PFG has been the subject of several research reports. Keefe, Bruyette & Woods lifted their price target on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Barclays raised their price objective on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. Piper Sandler raised their price objective on Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Wells Fargo & Company raised their price objective on Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley restated an “underweight” rating and set a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $85.92.

Principal Financial Group Stock Up 2.8 %

PFG stock opened at $82.78 on Friday. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.97. 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 firm has a market capitalization of $18.67 billion, a PE ratio of 12.39, a PEG ratio of 0.76 and a beta of 1.17. The stock has a 50-day simple moving average of $83.06 and a two-hundred day simple moving average of $83.34.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.75 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $3.00 annualized dividend and a dividend yield of 3.62%. Principal Financial Group’s payout ratio is presently 44.91%.

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.