Chevy Chase Trust Holdings LLC Reduces Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Chevy Chase Trust Holdings LLC cut its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 110,423 shares of the company's stock after selling 3,814 shares during the quarter. Chevy Chase Trust Holdings LLC's holdings in Principal Financial Group were worth $8,548,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in shares of Principal Financial Group by 5.1% in the third 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. lifted its holdings in Principal Financial Group by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,403,689 shares of the company's stock valued at $120,577,000 after acquiring an additional 18,801 shares during the period. Barclays PLC boosted its position in Principal Financial Group by 12.3% in the 3rd quarter. Barclays PLC now owns 806,672 shares of the company's stock worth $69,293,000 after purchasing an additional 88,179 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in shares of Principal Financial Group by 27.2% during the 3rd quarter. AustralianSuper Pty Ltd now owns 540,212 shares of the company's stock worth $46,404,000 after purchasing an additional 115,569 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of Principal Financial Group by 41.0% during the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company's stock valued at $43,367,000 after purchasing an additional 146,473 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Price Performance

PFG traded down $2.18 on Friday, hitting $84.38. 1,861,796 shares of the company's stock were exchanged, compared to its average volume of 1,518,853. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. The stock has a market cap of $19.30 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 0.75 and a beta of 1.22. The firm has a 50-day moving average price of $80.69 and a 200-day moving average price of $82.42. The company has a current ratio of 0.26, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.75 per share. This is a boost from Principal Financial Group's previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Wednesday, March 12th. Principal Financial Group's payout ratio is currently 43.71%.

Analyst Ratings Changes

Several research firms recently commented on PFG. Morgan Stanley restated an "underweight" rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Keefe, Bruyette & Woods lifted their price target on Principal Financial Group from $90.00 to $92.00 and gave the company a "market perform" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. raised Principal Financial Group from a "neutral" rating to an "overweight" rating and reduced their price target for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Piper Sandler raised their price objective on Principal Financial Group from $90.00 to $93.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Principal Financial Group has a consensus rating of "Hold" and an average price target of $85.92.

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.