Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC lowered its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 22.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,732 shares of the company’s stock after selling 788 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Principal Financial Group were worth $211,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PFG. Prime Capital Investment Advisors LLC increased its holdings in Principal Financial Group by 2.3% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock worth $546,000 after buying an additional 142 shares during the period. Pinnacle Financial Partners Inc acquired a new position in Principal Financial Group in the 3rd quarter worth approximately $57,000. KBC Group NV increased its holdings in Principal Financial Group by 1.8% in the 3rd quarter. KBC Group NV now owns 58,464 shares of the company’s stock worth $5,022,000 after buying an additional 1,046 shares during the period. Metis Global Partners LLC increased its holdings in Principal Financial Group by 5.0% in the 3rd quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock worth $965,000 after buying an additional 533 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in Principal Financial Group by 13.1% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,910 shares of the company’s stock worth $594,000 after buying an additional 798 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

PFG has been the topic of several recent research reports. BMO Capital Markets initiated coverage on Principal Financial Group in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective on the stock. Barclays upped their price objective on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, February 7th. Wells Fargo & Company upped their price objective on Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. Piper Sandler upped their price objective on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Four investment 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $85.92.

Principal Financial Group Stock Up 2.8 %

Shares of PFG opened at $82.78 on Friday. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.97. The company has a market capitalization of $18.67 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. The stock has a fifty day simple moving average of $83.06 and a two-hundred day simple moving average of $83.36. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be paid a $0.75 dividend. 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. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.62%. Principal Financial Group’s dividend payout ratio (DPR) is 44.91%.

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.