Corient Private Wealth LLC Lowers Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Corient Private Wealth LLC lowered its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 40.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,300 shares of the company's stock after selling 23,752 shares during the quarter. Corient Private Wealth LLC's holdings in Principal Financial Group were worth $2,655,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PFG. Sanctuary Advisors LLC raised its holdings in Principal Financial Group by 66.2% during the third quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company's stock worth $2,137,000 after purchasing an additional 9,933 shares in the last quarter. Legacy Financial Group LLC acquired a new position in Principal Financial Group during the 4th quarter worth approximately $771,000. Columbus Macro LLC raised its stake in shares of Principal Financial Group by 46.7% during the 4th quarter. Columbus Macro LLC now owns 25,653 shares of the company's stock worth $1,986,000 after buying an additional 8,169 shares in the last quarter. Lecap Asset Management Ltd. lifted its holdings in shares of Principal Financial Group by 135.6% in the 4th quarter. Lecap Asset Management Ltd. now owns 22,469 shares of the company's stock valued at $1,739,000 after buying an additional 12,933 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in shares of Principal Financial Group in the third quarter valued at approximately $1,475,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PFG shares. 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 report on Wednesday, February 12th. BMO Capital Markets initiated 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 target for the company. Royal Bank of Canada reissued a "sector perform" rating and set a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. Morgan Stanley restated an "underweight" rating and set a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Finally, Piper Sandler lifted their price target on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $85.92.

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Principal Financial Group Price Performance

Principal Financial Group stock traded down $0.52 during mid-day trading on Thursday, hitting $85.08. 702,383 shares of the company were exchanged, compared to its average volume of 1,134,529. 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 12-month low of $72.21 and a 12-month high of $91.98. The business's 50 day simple moving average is $84.05 and its two-hundred day simple moving average is $83.59. The company has a market capitalization of $19.19 billion, a P/E ratio of 12.74, a PEG ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, March 12th. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.53%. Principal Financial Group's payout ratio is 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.