Nicolet Bankshares Inc. Trims Stake in Principal Financial Group, Inc. (NYSE:PFG)

Nicolet Bankshares Inc. lessened its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 22.7% during the 4th quarter, HoldingsChannel reports. The fund owned 2,895 shares of the company’s stock after selling 848 shares during the quarter. Nicolet Bankshares Inc.’s holdings in Principal Financial Group were worth $224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of PFG. Integrated Wealth Concepts LLC bought a new stake in Principal Financial Group during the third quarter valued at about $212,000. Orion Portfolio Solutions LLC bought a new position in shares of Principal Financial Group during the 3rd quarter valued at approximately $240,000. Barclays PLC grew its stake in shares of Principal Financial Group by 12.3% during the 3rd quarter. Barclays PLC now owns 806,672 shares of the company’s stock valued at $69,293,000 after acquiring an additional 88,179 shares during the period. Coldstream Capital Management Inc. increased its holdings in Principal Financial Group by 6.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,956 shares of the company’s stock worth $512,000 after acquiring an additional 357 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in Principal Financial Group by 15.8% during the 3rd quarter. Toronto Dominion Bank now owns 123,958 shares of the company’s stock worth $10,648,000 after acquiring an additional 16,954 shares during the period. Institutional investors own 75.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Piper Sandler upped their price target 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, April 2nd. Keefe, Bruyette & Woods upped 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. BMO Capital Markets began coverage on Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price target on the stock. 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 research note on Tuesday, January 7th. Finally, Barclays decreased their target price on Principal Financial Group from $80.00 to $76.00 and set an “underweight” rating on the stock in a research note on Friday. Four equities 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 MarketBeat.com, Principal Financial Group has an average rating of “Hold” and a consensus target price of $84.69.

Principal Financial Group Trading Up 0.9 %

Shares of PFG opened at $72.61 on Friday. The stock has a market capitalization of $16.38 billion, a PE ratio of 10.87, a P/E/G ratio of 0.76 and a beta of 1.01. The company’s fifty day moving average is $82.79 and its 200 day moving average is $83.08. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two 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. Stockholders of record on Wednesday, March 12th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.13%. This is a boost 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 is currently 44.91%.

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.