National Bank of Canada FI Has $9.22 Million Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

National Bank of Canada FI trimmed its position in Principal Financial Group, Inc. (NYSE:PFG) by 7.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 119,071 shares of the company’s stock after selling 9,684 shares during the period. National Bank of Canada FI’s holdings in Principal Financial Group were worth $9,217,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Curio Wealth LLC acquired a new stake in shares of Principal Financial Group during the 4th quarter worth approximately $29,000. BankPlus Trust Department bought a new position in Principal Financial Group in the fourth quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC grew its holdings in 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 period. Golden State Wealth Management LLC bought a new stake in shares of Principal Financial Group during the 4th quarter valued at $46,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of Principal Financial Group in the 4th quarter valued at $54,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company lifted their price objective 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. Barclays boosted their target price on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their price target for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Piper Sandler boosted their price objective on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods increased their target price on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Principal Financial Group has an average rating of “Hold” and a consensus target price of $86.57.

Principal Financial Group Trading Down 8.0 %

PFG opened at $72.94 on Friday. The stock has a market capitalization of $16.45 billion, a P/E ratio of 10.92, a P/E/G ratio of 0.76 and a beta of 1.01. 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 firm’s fifty day simple moving average is $84.12 and its 200 day simple moving average is $83.67.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were given a dividend of $0.75 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 4.11%. The ex-dividend date was Wednesday, March 12th. Principal Financial Group’s dividend payout ratio is currently 44.91%.

About Principal Financial Group

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.