Principal Financial Group, Inc. (NYSE:PFG) Stock Position Decreased by Martin Capital Partners LLC

Martin Capital Partners LLC cut its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 64.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,747 shares of the company's stock after selling 4,968 shares during the quarter. Martin Capital Partners LLC's holdings in Principal Financial Group were worth $213,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Peterson Financial Group Inc. bought a new stake in Principal Financial Group during the 3rd quarter valued at $33,000. Truvestments Capital LLC bought a new position in Principal Financial Group in the third quarter valued at $43,000. Sugarloaf Wealth Management LLC raised its stake in shares of Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock worth $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 3rd quarter worth approximately $45,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Principal Financial Group during the third quarter valued at about $50,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Performance

NYSE:PFG traded up $2.33 during midday trading on Friday, reaching $82.33. The stock had a trading volume of 3,128,667 shares, compared to its average volume of 1,392,383. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97. The stock has a market cap of $18.83 billion, a P/E ratio of 12.32, a P/E/G ratio of 0.79 and a beta of 1.22. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $80.04 and a two-hundred day simple moving average of $82.07.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be paid a $0.75 dividend. This is a boost from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 annualized dividend and a dividend yield of 3.64%. Principal Financial Group's dividend payout ratio (DPR) is 43.71%.

Analyst Upgrades and Downgrades

PFG has been the subject of several recent analyst reports. 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. Piper Sandler raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and set a $90.00 price target for the company in a report on Wednesday, December 18th. Morgan Stanley restated an "underweight" rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price target for the company. Finally, Barclays boosted their price target on Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $85.15.

Principal Financial Group 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.