Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Choreo LLC

Choreo LLC trimmed its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,798 shares of the company’s stock after selling 740 shares during the quarter. Choreo LLC’s holdings in Principal Financial Group were worth $1,532,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Peterson Financial Group Inc. purchased a new stake in Principal Financial Group during the 3rd quarter worth about $33,000. Truvestments Capital LLC purchased a new stake in shares of Principal Financial Group in the 3rd quarter valued at about $43,000. Sugarloaf Wealth Management LLC lifted its holdings in shares of 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 last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Principal Financial Group in the 3rd quarter valued at about $45,000. Finally, Capital Performance Advisors LLP purchased a new stake in Principal Financial Group during the 3rd quarter valued at approximately $50,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $82.33 on Friday. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97. The firm has a market capitalization of $18.83 billion, a price-to-earnings ratio of -91.48, a price-to-earnings-growth ratio of 0.81 and a beta of 1.22. The business has a 50 day simple moving average of $80.14 and a 200 day simple moving average of $82.09. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.75 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) is presently 43.71%.

Analyst Ratings Changes

A number of research firms recently weighed in on PFG. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Wells Fargo & Company lowered their price target on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. BMO Capital Markets initiated coverage on Principal Financial Group in a research note on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price for the company. Morgan Stanley restated an “underweight” rating and set a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Finally, Piper Sandler upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price target for the company in a research note on Wednesday, December 18th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $85.15.

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.