Amalgamated Bank Sells 1,715 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Amalgamated Bank decreased its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 4.0% in the 4th quarter, Holdings Channel reports. The fund owned 41,183 shares of the company’s stock after selling 1,715 shares during the period. Amalgamated Bank’s holdings in Principal Financial Group were worth $3,188,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. increased its position in Principal Financial Group by 2.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock worth $404,000 after purchasing an additional 132 shares in the last quarter. Leavell Investment Management Inc. boosted its position in Principal Financial Group by 5.4% in the fourth quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock valued at $208,000 after buying an additional 138 shares in the last quarter. Prime Capital Investment Advisors LLC grew its stake in shares of Principal Financial Group by 2.3% during the third 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 last quarter. Empirical Finance LLC increased its holdings in shares of Principal Financial Group by 1.8% during the third quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock worth $676,000 after buying an additional 142 shares in the last quarter. Finally, Palisade Asset Management LLC lifted its stake in shares of Principal Financial Group by 2.1% in the 3rd quarter. Palisade Asset Management LLC now owns 6,946 shares of the company’s stock valued at $597,000 after acquiring an additional 146 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company boosted 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. Morgan Stanley reissued an “underweight” rating and set a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Piper Sandler raised their price objective on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, BMO Capital Markets started coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price on the stock. Four 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $85.92.

Principal Financial Group Price Performance

PFG stock opened at $89.04 on Friday. 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’s fifty day simple moving average is $81.67 and its 200 day simple moving average is $82.91. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97. The firm has a market cap of $20.08 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 0.76 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. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 annualized dividend and a dividend yield of 3.37%. Principal Financial Group’s dividend payout ratio is presently 44.91%.

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.