Sumitomo Mitsui Trust Group Inc. Has $39.72 Million Stake in Principal Financial Group, Inc. (NYSE:PFG)

Sumitomo Mitsui Trust Group Inc. lowered its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 513,166 shares of the company's stock after selling 9,694 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of Principal Financial Group worth $39,724,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PFG. Strategic Financial Concepts LLC acquired a new stake in shares of Principal Financial Group during the 4th quarter worth about $2,988,000. Centennial Wealth Advisory LLC lifted its stake in shares of Principal Financial Group by 14.2% during the 4th quarter. Centennial Wealth Advisory LLC now owns 3,931 shares of the company's stock worth $304,000 after buying an additional 490 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Principal Financial Group by 29.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,533 shares of the company's stock worth $1,827,000 after buying an additional 5,350 shares during the last quarter. Greenwood Capital Associates LLC lifted its stake in shares of Principal Financial Group by 1.3% during the 4th quarter. Greenwood Capital Associates LLC now owns 17,578 shares of the company's stock worth $1,361,000 after buying an additional 219 shares during the last quarter. Finally, E. Ohman J or Asset Management AB lifted its stake in shares of Principal Financial Group by 22.5% during the 4th quarter. E. Ohman J or Asset Management AB now owns 10,900 shares of the company's stock worth $844,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Trading Down 1.5 %

NYSE:PFG traded down $1.30 during mid-day trading on Friday, hitting $85.65. 1,669,765 shares of the company's stock were exchanged, compared to its average volume of 1,510,735. The company has a 50 day simple moving average of $80.10 and a 200-day simple moving average of $82.12. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. The firm has a market capitalization of $19.59 billion, a P/E ratio of 12.82, a PEG ratio of 0.79 and a beta of 1.22.

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 given a dividend of $0.75 per share. The ex-dividend date is Wednesday, March 12th. 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%. Principal Financial Group's dividend payout ratio (DPR) is currently 43.71%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PFG. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and cut their target price for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Piper Sandler raised 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. Keefe, Bruyette & Woods raised their target price on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a "market perform" rating in a report on Wednesday. Barclays raised their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a report on Friday, February 7th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $85.54.

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.