Metis Global Partners LLC Sells 3,864 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Metis Global Partners LLC trimmed its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 34.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,366 shares of the company's stock after selling 3,864 shares during the quarter. Metis Global Partners LLC's holdings in Principal Financial Group were worth $570,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PFG. Royal Bank of Canada restated a "sector perform" rating and set a $91.00 target price on shares of Principal Financial Group in a research report on Thursday, January 16th. Keefe, Bruyette & Woods increased their target price on shares of 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. Piper Sandler increased 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. Wells Fargo & Company increased their target price on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an "underweight" rating in a research report on Wednesday, February 19th. Finally, BMO Capital Markets began 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 target price on the stock. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $85.92.

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Principal Financial Group Price Performance

NYSE:PFG traded down $1.03 on Friday, hitting $85.61. The company had a trading volume of 1,662,573 shares, compared to its average volume of 1,559,927. The stock has a market capitalization of $19.31 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.76 and a beta of 1.17. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $82.56 and a two-hundred day moving average of $83.24. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.97.

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 an increase from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $3.00 annualized dividend and a yield of 3.50%. Principal Financial Group's dividend payout ratio 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.