Cibc World Markets Corp Has $2.65 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Cibc World Markets Corp lessened its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 19.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,176 shares of the company's stock after selling 8,384 shares during the quarter. Cibc World Markets Corp's holdings in Principal Financial Group were worth $2,646,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BankPlus Trust Department bought a new position in Principal Financial Group during the fourth quarter worth $33,000. Truvestments Capital LLC bought a new stake in shares of Principal Financial Group during the 3rd quarter valued at about $43,000. Sugarloaf Wealth Management LLC grew its stake in Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock worth $43,000 after buying an additional 195 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Principal Financial Group during the third quarter valued at $45,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Principal Financial Group during the fourth quarter worth about $46,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on PFG shares. Piper Sandler upped their target price on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Keefe, Bruyette & Woods raised their target price on Principal Financial Group from $90.00 to $92.00 and gave the company a "market perform" rating in a research report on Wednesday, February 12th. Barclays boosted their price target on Principal Financial Group from $77.00 to $80.00 and gave the stock an "underweight" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. raised Principal Financial Group from a "neutral" rating to an "overweight" rating and lowered their price target for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Finally, BMO Capital Markets began coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Principal Financial Group has a consensus rating of "Hold" and an average price target of $85.92.

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Principal Financial Group Price Performance

NYSE:PFG traded down $0.87 during trading hours on Friday, reaching $83.26. 2,541,416 shares of the company's stock were exchanged, compared to its average volume of 1,136,699. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $18.78 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.98. The business's 50-day simple moving average is $83.65 and its two-hundred day simple moving average is $83.46.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.75 per share. The ex-dividend date is Wednesday, March 12th. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 3.60%. Principal Financial Group's dividend payout ratio (DPR) is currently 44.91%.

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.