Trust Point Inc. Sells 50,288 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Trust Point Inc. reduced its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 12.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 370,044 shares of the company's stock after selling 50,288 shares during the period. Principal Financial Group comprises approximately 2.0% of Trust Point Inc.'s holdings, making the stock its 7th largest holding. Trust Point Inc. owned about 0.16% of Principal Financial Group worth $28,645,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PFG. AQR Capital Management LLC boosted its stake in Principal Financial Group by 80.6% in the second quarter. AQR Capital Management LLC now owns 13,451 shares of the company's stock valued at $1,055,000 after acquiring an additional 6,001 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Principal Financial Group by 6.9% in the 2nd quarter. Cetera Investment Advisers now owns 57,293 shares of the company's stock worth $4,495,000 after purchasing an additional 3,714 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Principal Financial Group during the 2nd quarter valued at approximately $1,187,000. AMF Tjanstepension AB grew its stake in Principal Financial Group by 28.7% during the 3rd quarter. AMF Tjanstepension AB now owns 290,723 shares of the company's stock worth $24,997,000 after buying an additional 64,915 shares during the last quarter. Finally, Czech National Bank increased its position in Principal Financial Group by 5.6% in the third quarter. Czech National Bank now owns 43,402 shares of the company's stock worth $3,728,000 after buying an additional 2,311 shares during the period. 75.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PFG shares. Bank of America reduced their price target on shares of Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating for the company in a report on Thursday, October 10th. Piper Sandler raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and set a $90.00 target price for the company in a research note on Wednesday, December 18th. Morgan Stanley restated an "underweight" rating and issued a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Royal Bank of Canada reiterated a "sector perform" rating and set a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. Finally, Wells Fargo & Company lowered their target price on Principal Financial Group from $75.00 to $69.00 and set an "underweight" rating on the stock in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a sell rating, six have assigned 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 stock currently has an average rating of "Hold" and an average target price of $85.15.

Principal Financial Group Price Performance

Principal Financial Group stock traded up $2.33 during midday trading on Friday, hitting $82.33. The company's stock had a trading volume of 3,128,667 shares, compared to its average volume of 1,441,095. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.97. 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 company has a market capitalization of $18.83 billion, a PE ratio of -91.48, a price-to-earnings-growth ratio of 0.81 and a beta of 1.22. The stock's 50-day moving average price is $80.14 and its 200-day moving average price is $82.09.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be issued a $0.75 dividend. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Wednesday, March 12th. Principal Financial Group's payout ratio is presently 43.71%.

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.