Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC cut its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 23.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,371 shares of the company's stock after selling 4,429 shares during the period. Kestra Private Wealth Services LLC's holdings in Principal Financial Group were worth $1,112,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Peterson Financial Group Inc. purchased a new stake in Principal Financial Group during the 3rd quarter worth about $33,000. Truvestments Capital LLC purchased a new stake in shares of Principal Financial Group during the third quarter worth approximately $43,000. Sugarloaf Wealth Management LLC raised its holdings in Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock valued at $43,000 after acquiring an additional 195 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Principal Financial Group in the third quarter worth approximately $45,000. Finally, Golden State Wealth Management LLC acquired a new position in Principal Financial Group during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PFG. 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 objective on the stock. Royal Bank of Canada restated a "sector perform" rating and issued a $91.00 price target on shares of Principal Financial Group in a research note on Thursday, January 16th. Morgan Stanley reaffirmed an "underweight" rating and set a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Keefe, Bruyette & Woods raised their target price on 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. Finally, Barclays upped their price target on Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a report on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Principal Financial Group presently has an average rating of "Hold" and a consensus target price of $85.54.

Principal Financial Group Stock Performance

Shares of PFG traded down $1.30 during mid-day trading on Monday, reaching $85.65. 1,669,765 shares of the company's stock were exchanged, compared to its average volume of 1,392,383. The business's fifty day simple moving average is $80.13 and its 200-day simple moving average is $82.16. The stock has a market capitalization of $19.59 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.79 and a beta of 1.22. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.75 per share. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 3.50%. The ex-dividend date is Wednesday, March 12th. Principal Financial Group's dividend payout ratio (DPR) is presently 43.71%.

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.