JPMorgan Chase & Co. Has $153.24 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

JPMorgan Chase & Co. reduced its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 19.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,979,558 shares of the company's stock after selling 483,004 shares during the quarter. JPMorgan Chase & Co. owned 0.87% of Principal Financial Group worth $153,238,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PFG. Glenmede Trust Co. NA grew its holdings in shares of Principal Financial Group by 2.5% during the third quarter. Glenmede Trust Co. NA now owns 12,004 shares of the company's stock worth $1,031,000 after buying an additional 291 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of Principal Financial Group by 1.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 37,141 shares of the company's stock worth $3,190,000 after acquiring an additional 500 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Principal Financial Group in the third quarter valued at approximately $362,000. Benjamin Edwards Inc. bought a new stake in shares of Principal Financial Group in the third quarter worth $382,000. Finally, Holocene Advisors LP boosted its holdings in Principal Financial Group by 92.6% during the third quarter. Holocene Advisors LP now owns 108,326 shares of the company's stock worth $9,305,000 after purchasing an additional 52,077 shares during the last quarter. Institutional investors own 75.08% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PFG. JPMorgan Chase & Co. upgraded shares of 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 research note on Tuesday, January 7th. Barclays lifted their target price on Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a research report on Friday, February 7th. Royal Bank of Canada reiterated a "sector perform" rating and set a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th. UBS Group raised their price target on Principal Financial Group from $87.00 to $93.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Piper Sandler upped their price objective on Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a research note on Wednesday. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $86.57.

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Principal Financial Group Stock Performance

Shares of PFG stock traded down $6.87 during midday trading on Thursday, hitting $79.32. 1,412,282 shares of the company were exchanged, compared to its average volume of 1,221,339. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.98. The firm has a market capitalization of $17.89 billion, a P/E ratio of 11.87, a PEG ratio of 0.76 and a beta of 1.01. The firm's 50 day moving average price is $84.35 and its two-hundred day moving average price is $83.76. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders 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 was Wednesday, March 12th. This represents a $3.00 annualized dividend and a yield of 3.78%. Principal Financial Group's dividend payout ratio (DPR) is presently 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.