Sei Investments Co. Trims Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Sei Investments Co. lowered its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 23.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,048 shares of the company's stock after selling 6,134 shares during the period. Sei Investments Co.'s holdings in Principal Financial Group were worth $1,552,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PFG. Curio Wealth LLC bought a new stake in shares of Principal Financial Group during the 4th quarter valued at about $29,000. BankPlus Trust Department bought a new stake in Principal Financial Group during the 4th quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC grew its holdings in shares of Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock worth $43,000 after acquiring an additional 195 shares during the period. Golden State Wealth Management LLC bought a new position in shares of Principal Financial Group in the 4th quarter worth approximately $46,000. Finally, Whipplewood Advisors LLC bought a new position in shares of Principal Financial Group in the 4th quarter worth approximately $54,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Up 0.9 %

Shares of Principal Financial Group stock traded up $0.65 on Friday, reaching $72.61. The company's stock had a trading volume of 2,091,318 shares, compared to its average volume of 1,256,605. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.98. The firm's fifty day simple moving average is $82.79 and its two-hundred day simple moving average is $83.08. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $16.38 billion, a price-to-earnings ratio of 10.87, a P/E/G ratio of 0.76 and a beta of 1.01.

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Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were given a $0.75 dividend. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date was Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 4.13%. Principal Financial Group's payout ratio is 44.91%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. BMO Capital Markets started coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price target on the stock. Morgan Stanley reduced their target price on shares of Principal Financial Group from $77.00 to $65.00 and set an "underweight" rating on the stock in a research report on Thursday. Piper Sandler lifted their price target on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. UBS Group upped their price objective on shares of Principal Financial Group from $87.00 to $93.00 and gave the stock a "neutral" rating in a report on Wednesday, April 2nd. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set 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, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Principal Financial Group currently has an average rating of "Hold" and a consensus target price of $84.79.

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.