AMF Tjanstepension AB Cuts Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

AMF Tjanstepension AB decreased its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 67.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,164 shares of the company's stock after selling 195,559 shares during the quarter. AMF Tjanstepension AB's holdings in Principal Financial Group were worth $7,377,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PFG. Peterson Financial Group Inc. acquired a new position in Principal Financial Group in the 3rd quarter valued at $33,000. BankPlus Trust Department purchased a new stake in shares of Principal Financial Group during the fourth quarter worth $33,000. Truvestments Capital LLC acquired a new stake in shares of Principal Financial Group in the third quarter valued at about $43,000. Prospera Private Wealth LLC purchased a new position in shares of Principal Financial Group in the third quarter worth about $45,000. Finally, Sugarloaf Wealth Management LLC boosted its position in Principal Financial Group by 53.6% during the fourth 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. Hedge funds and other institutional investors own 75.08% of the company's stock.

Principal Financial Group Trading Down 0.1 %

NYSE PFG traded down $0.10 during trading hours on Wednesday, reaching $82.03. The company had a trading volume of 1,829,930 shares, compared to its average volume of 1,578,820. 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 stock has a market capitalization of $18.50 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. The stock has a 50-day moving average of $82.80 and a 200 day moving average of $83.34. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.97.

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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 represents a $3.00 dividend on an annualized basis and a yield of 3.66%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Wednesday, March 12th. Principal Financial Group's dividend payout ratio is 44.91%.

Wall Street Analyst Weigh In

PFG has been the topic of a number of research reports. BMO Capital Markets assumed coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 target price on the stock. Piper Sandler lifted their price objective 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. Wells Fargo & Company upped their target price on Principal Financial Group from $69.00 to $74.00 and gave the company an "underweight" rating in a report on Wednesday, February 19th. Morgan Stanley reaffirmed an "underweight" rating and issued a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Finally, Royal Bank of Canada reissued 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. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock 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.