California Public Employees Retirement System Has $28.73 Million Stake in Principal Financial Group, Inc. (NYSE:PFG)

California Public Employees Retirement System decreased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 371,093 shares of the company's stock after selling 37,406 shares during the quarter. California Public Employees Retirement System owned 0.16% of Principal Financial Group worth $28,726,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Curio Wealth LLC bought a new stake in Principal Financial Group in the 4th quarter valued at $29,000. BankPlus Trust Department bought a new stake in shares of Principal Financial Group in the 4th quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC grew its stake 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 period. Golden State Wealth Management LLC acquired a new position in shares of Principal Financial Group in the 4th quarter worth approximately $46,000. Finally, Whipplewood Advisors LLC bought a new position in shares of Principal Financial Group during the 4th quarter worth approximately $54,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PFG. JPMorgan Chase & Co. upgraded Principal Financial Group from a "neutral" rating to an "overweight" rating and decreased their price target for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Barclays raised their target price on Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a research note on Friday, February 7th. 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. BMO Capital Markets started coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price objective for the company. Finally, 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 research report on Wednesday, February 12th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Principal Financial Group has a consensus rating of "Hold" and a consensus price target of $86.57.

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Principal Financial Group Stock Up 1.5 %

PFG traded up $1.10 during trading on Tuesday, reaching $72.75. The company had a trading volume of 611,614 shares, compared to its average volume of 1,491,385. The company has a market cap of $16.41 billion, a P/E ratio of 10.89, a PEG ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a 12 month low of $68.70 and a 12 month high of $91.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The business's fifty day moving average price is $83.90 and its 200 day moving average price is $83.57.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date was Wednesday, March 12th. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.73. Principal Financial Group's payout ratio is currently 44.91%.

About Principal Financial Group

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.