Candriam S.C.A. Reduces Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Candriam S.C.A. lowered its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 6.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 23,424 shares of the company’s stock after selling 1,744 shares during the period. Candriam S.C.A.’s holdings in Principal Financial Group were worth $1,813,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Peterson Financial Group Inc. purchased a new stake in Principal Financial Group in the 3rd quarter worth approximately $33,000. BankPlus Trust Department purchased a new stake in Principal Financial Group in the 4th quarter worth approximately $33,000. Truvestments Capital LLC purchased a new stake in Principal Financial Group in the 3rd quarter worth approximately $43,000. Sugarloaf Wealth Management LLC lifted its holdings in Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after buying an additional 195 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in Principal Financial Group in the 3rd quarter worth approximately $45,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of PFG opened at $85.61 on Monday. The business’s fifty day simple moving average is $82.56 and its two-hundred day simple moving average is $83.28. 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 $91.97. The company has a market cap of $19.31 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given a dividend of $0.75 per share. The ex-dividend date is Wednesday, March 12th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 3.50%. Principal Financial Group’s payout ratio is 44.91%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PFG shares. Morgan Stanley reissued an “underweight” rating and issued a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a research report on Thursday, January 16th. Keefe, Bruyette & Woods increased 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. Piper Sandler increased their target price on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $85.92.

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.