Dorsey & Whitney Trust CO LLC Has $4.75 Million Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Dorsey & Whitney Trust CO LLC lowered its stake in Principal Financial Group, Inc. (NYSE:PFG) by 9.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 61,342 shares of the company’s stock after selling 6,474 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Principal Financial Group were worth $4,748,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Capital Management Corp VA grew its stake in Principal Financial Group by 14.1% in the 4th quarter. Capital Management Corp VA now owns 115,614 shares of the company’s stock valued at $8,950,000 after buying an additional 14,301 shares during the last quarter. BBR Partners LLC grew its position in shares of Principal Financial Group by 100.5% during the 4th quarter. BBR Partners LLC now owns 22,052 shares of the company’s stock worth $1,707,000 after purchasing an additional 11,052 shares in the last quarter. Callan Family Office LLC acquired a new position in shares of Principal Financial Group during the 4th quarter worth approximately $272,000. Hartford Funds Management Co LLC grew its position in shares of Principal Financial Group by 1.5% during the 4th quarter. Hartford Funds Management Co LLC now owns 11,241 shares of the company’s stock worth $870,000 after purchasing an additional 161 shares in the last quarter. Finally, Freestone Capital Holdings LLC grew its position in shares of Principal Financial Group by 0.9% during the 4th quarter. Freestone Capital Holdings LLC now owns 35,356 shares of the company’s stock worth $2,737,000 after purchasing an additional 332 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

PFG has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Wells Fargo & Company increased their target price on shares of 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 increased their target price on shares of 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, 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 report on Thursday, December 5th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $85.92.

Principal Financial Group Price Performance

Shares of NYSE:PFG opened at $85.61 on Friday. The company has a market cap of $19.31 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The firm has a 50 day simple moving average of $82.56 and a 200 day simple moving average of $83.20. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.97.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be paid a $0.75 dividend. This is an increase 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 yield of 3.50%. Principal Financial Group’s dividend payout ratio is presently 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.