Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC lowered its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 4.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 23,442 shares of the company’s stock after selling 999 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Principal Financial Group were worth $1,815,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. AlphaQuest LLC increased its holdings in shares of Principal Financial Group by 18.5% during the fourth quarter. AlphaQuest LLC now owns 29,201 shares of the company’s stock valued at $2,260,000 after acquiring an additional 4,555 shares in the last quarter. Argentarii LLC acquired a new position in shares of Principal Financial Group during the fourth quarter valued at about $641,000. Amundi increased its holdings in shares of Principal Financial Group by 24.1% during the fourth quarter. Amundi now owns 1,359,779 shares of the company’s stock valued at $106,511,000 after acquiring an additional 264,383 shares in the last quarter. Capital Management Corp VA increased its holdings 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 worth $8,950,000 after buying an additional 14,301 shares during the period. Finally, BBR Partners LLC increased its holdings in Principal Financial Group by 100.5% in the 4th quarter. BBR Partners LLC now owns 22,052 shares of the company’s stock worth $1,707,000 after buying an additional 11,052 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Analysts Set New Price Targets

PFG has been the topic of several research reports. Piper Sandler increased their price target on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price target on the stock. Keefe, Bruyette & Woods increased their price target on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. Finally, Barclays raised their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Trading Down 1.2 %

Shares of NYSE:PFG opened at $85.61 on Friday. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97. The firm has a market capitalization of $19.31 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth 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 business’s 50 day moving average price is $82.56 and its 200-day moving average price is $83.24.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders 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 of this dividend is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.50%. Principal Financial Group’s dividend payout ratio (DPR) is 44.91%.

About Principal Financial Group

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.