Swiss National Bank Sells 41,700 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Swiss National Bank lessened its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 654,200 shares of the company's stock after selling 41,700 shares during the quarter. Swiss National Bank owned 0.29% of Principal Financial Group worth $50,642,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PFG. Peterson Financial Group Inc. bought a new position in shares of Principal Financial Group in the 3rd quarter valued at $33,000. BankPlus Trust Department bought a new position in Principal Financial Group during the 4th quarter worth $33,000. Truvestments Capital LLC bought a new position in shares of Principal Financial Group in the 3rd quarter worth about $43,000. Sugarloaf Wealth Management LLC raised its position in shares of Principal Financial Group by 53.6% in 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 in the last quarter. Finally, Prospera Private Wealth LLC bought a new position in shares of Principal Financial Group in the 3rd quarter worth about $45,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Stock Performance

Shares of NYSE:PFG traded up $1.17 during mid-day trading on Wednesday, reaching $84.41. The company had a trading volume of 1,074,940 shares, compared to its average volume of 1,529,510. 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 market cap of $19.04 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 0.76 and a beta of 1.17. The company's 50-day moving average price is $83.28 and its 200-day moving average price is $83.42. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.97.

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Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.75 per share. This is a boost from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.55%. Principal Financial Group's payout ratio is presently 44.91%.

Wall Street Analyst Weigh In

Several analysts have recently commented on PFG shares. Piper Sandler raised their target price on Principal Financial Group from $90.00 to $93.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. JPMorgan Chase & Co. upgraded Principal Financial Group from a "neutral" rating to an "overweight" rating and reduced their target price for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Royal Bank of Canada restated a "sector perform" rating and issued a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. Morgan Stanley reiterated an "underweight" rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Finally, Wells Fargo & Company lifted their price target on Principal Financial Group from $69.00 to $74.00 and gave the company an "underweight" rating in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $85.92.

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.