Principal Financial Group, Inc. (NYSE:PFG) Position Lessened by Natixis Advisors LLC

Natixis Advisors LLC lessened its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 18.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,576 shares of the company's stock after selling 16,512 shares during the quarter. Natixis Advisors LLC's holdings in Principal Financial Group were worth $5,541,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. grew its position in Principal Financial Group by 2.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company's stock valued at $404,000 after acquiring an additional 132 shares during the period. Leavell Investment Management Inc. lifted its stake in shares of Principal Financial Group by 5.4% in the 4th quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company's stock valued at $208,000 after purchasing an additional 138 shares in the last quarter. Palisade Asset Management LLC grew its holdings in shares of Principal Financial Group by 2.1% during the 3rd quarter. Palisade Asset Management LLC now owns 6,946 shares of the company's stock worth $597,000 after purchasing an additional 146 shares during the period. CENTRAL TRUST Co increased its position in Principal Financial Group by 9.6% during the 4th quarter. CENTRAL TRUST Co now owns 1,730 shares of the company's stock worth $134,000 after purchasing an additional 151 shares in the last quarter. Finally, Cidel Asset Management Inc. raised its holdings in Principal Financial Group by 6.3% in the fourth quarter. Cidel Asset Management Inc. now owns 2,636 shares of the company's stock valued at $204,000 after buying an additional 156 shares during the period. Hedge funds and other institutional investors own 75.08% of the company's stock.

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Principal Financial Group Stock Performance

Principal Financial Group stock traded down $0.07 during mid-day trading on Wednesday, reaching $85.60. The company's stock had a trading volume of 1,021,999 shares, compared to its average volume of 1,135,572. The firm has a market cap of $19.31 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.98. The business has a 50 day moving average price of $83.94 and a 200-day moving average price of $83.58. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.50%. 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. Principal Financial Group's dividend payout ratio is currently 44.91%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PFG shares. Piper Sandler lifted their target price on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Barclays lifted their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a research note on Friday, February 7th. Wells Fargo & Company upped their price objective on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an "underweight" rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. raised Principal Financial Group from a "neutral" rating to an "overweight" rating and dropped their target price for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Finally, BMO Capital Markets initiated coverage on Principal Financial Group in a report on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price objective on the stock. 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 given a strong buy rating to the company. According to MarketBeat, Principal Financial Group presently has an average rating of "Hold" and an average price target of $85.92.

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.