Swiss National Bank Sells 41,700 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Swiss National Bank trimmed its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 6.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 654,200 shares of the company’s stock after selling 41,700 shares during the period. Swiss National Bank’s holdings in Principal Financial Group were worth $50,642,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Peterson Financial Group Inc. purchased a new position in shares of Principal Financial Group during the third quarter worth about $33,000. BankPlus Trust Department purchased a new position in Principal Financial Group in the 4th quarter worth approximately $33,000. Truvestments Capital LLC bought a new position in shares of Principal Financial Group in the 3rd quarter worth $43,000. Prospera Private Wealth LLC purchased a new stake in shares of Principal Financial Group during the 3rd quarter valued at $45,000. Finally, Sugarloaf Wealth Management LLC lifted its holdings in shares of Principal Financial Group by 53.6% during 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. 75.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PFG. Piper Sandler raised their price target 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. Keefe, Bruyette & Woods boosted their target price on 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a research report on Thursday, January 16th. Wells Fargo & Company boosted their price objective on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a report on Wednesday, February 19th. Finally, Barclays increased their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, February 7th. Four equities 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Stock Performance

Shares of NYSE:PFG opened at $82.78 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $83.06 and a 200-day moving average price of $83.36. The company has a market cap of $18.67 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.97.

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. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.62%. Principal Financial Group’s dividend 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.