Advisors Asset Management Inc. Sells 1,480 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Advisors Asset Management Inc. reduced its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,259 shares of the company’s stock after selling 1,480 shares during the period. Advisors Asset Management Inc.’s holdings in Principal Financial Group were worth $2,497,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sanctuary Advisors LLC raised its stake in Principal Financial Group by 66.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock valued at $2,137,000 after purchasing an additional 9,933 shares during the last quarter. Legacy Financial Group LLC acquired a new position in Principal Financial Group during the 4th quarter valued at $771,000. Columbus Macro LLC raised its stake in Principal Financial Group by 46.7% during the 4th quarter. Columbus Macro LLC now owns 25,653 shares of the company’s stock valued at $1,986,000 after purchasing an additional 8,169 shares during the last quarter. Empowered Funds LLC raised its stake in Principal Financial Group by 358.7% during the 3rd quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock valued at $1,403,000 after purchasing an additional 12,768 shares during the last quarter. Finally, Lecap Asset Management Ltd. raised its stake in Principal Financial Group by 135.6% during the 4th quarter. Lecap Asset Management Ltd. now owns 22,469 shares of the company’s stock valued at $1,739,000 after purchasing an additional 12,933 shares during the last quarter. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Stock Down 1.0 %

PFG opened at $83.26 on Friday. The firm’s 50-day simple moving average is $83.65 and its 200-day simple moving average is $83.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.98. The firm has a market cap of $18.78 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.60%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio is currently 44.91%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Morgan Stanley reiterated an “underweight” rating and set a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Barclays increased their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a research note on Thursday, January 16th. Piper Sandler increased their price objective on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $85.92.

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.