Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Korea Investment CORP

Korea Investment CORP cut its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 3.1% in the 4th quarter, Holdings Channel reports. The fund owned 250,366 shares of the company’s stock after selling 8,000 shares during the period. Korea Investment CORP’s holdings in Principal Financial Group were worth $19,381,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Curio Wealth LLC purchased a new stake in Principal Financial Group during the 4th quarter worth approximately $29,000. BankPlus Trust Department acquired a new position in shares of Principal Financial Group in the 4th quarter worth approximately $33,000. Sugarloaf Wealth Management LLC increased its holdings in shares of Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after acquiring an additional 195 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in Principal Financial Group during the fourth quarter valued at $46,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of Principal Financial Group during the 4th quarter valued at about $54,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PFG shares. Wells Fargo & Company boosted their price objective on Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Morgan Stanley reaffirmed an “underweight” rating and issued a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Piper Sandler boosted their target price 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, Barclays upped their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, February 7th. Four research 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.com, Principal Financial Group currently has an average rating of “Hold” and an average price target of $85.92.

Principal Financial Group Price Performance

NYSE PFG opened at $83.06 on Friday. The firm has a market capitalization of $18.74 billion, a PE ratio of 12.43, a P/E/G 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. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.98. The company’s 50 day simple moving average is $84.15 and its 200 day simple moving average is $83.66.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Wednesday, March 12th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s payout ratio is currently 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.