Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 49.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 253,404 shares of the company's stock after selling 250,331 shares during the quarter. Bank of Montreal Can owned approximately 0.11% of Principal Financial Group worth $19,616,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC increased its position in Principal Financial Group by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company's stock worth $422,074,000 after purchasing an additional 52,410 shares during the last quarter. Norges Bank purchased a new stake in shares of Principal Financial Group during the 4th quarter valued at $217,021,000. JPMorgan Chase & Co. increased its holdings in shares of Principal Financial Group by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company's stock worth $211,534,000 after buying an additional 118,722 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Principal Financial Group by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,448,507 shares of the company's stock worth $112,129,000 after buying an additional 44,818 shares during the period. Finally, Amundi boosted its holdings in Principal Financial Group by 24.1% in the fourth quarter. Amundi now owns 1,359,779 shares of the company's stock valued at $106,511,000 after acquiring an additional 264,383 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.

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Principal Financial Group Stock Down 1.9 %

Shares of NYSE:PFG traded down $1.39 during midday trading on Wednesday, reaching $71.70. The company had a trading volume of 1,106,541 shares, compared to its average volume of 1,268,417. The stock has a market capitalization of $16.13 billion, a P/E ratio of 10.73, a PEG ratio of 0.76 and a beta of 1.01. The stock's fifty day moving average price is $82.51 and its 200-day moving average price is $82.90. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a one year low of $68.39 and a one year high of $91.98.

Principal Financial Group Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $3.00 annualized dividend and a dividend yield of 4.18%. Principal Financial Group's dividend payout ratio (DPR) is presently 44.91%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PFG shares. Piper Sandler raised their price objective on Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Barclays reduced their price target on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a research report on Friday, April 11th. UBS Group raised their target price on shares of Principal Financial Group from $87.00 to $93.00 and gave the company a "neutral" rating in a research note on Wednesday, April 2nd. Royal Bank of Canada restated a "sector perform" rating and set a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th. Finally, Wells Fargo & Company cut their price objective on Principal Financial Group from $74.00 to $68.00 and set an "underweight" rating on the stock in a research report on Thursday, April 10th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $84.69.

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.