UniSuper Management Pty Ltd Sells 4,204 Shares of Principal Financial Group, Inc. (NYSE:PFG)

UniSuper Management Pty Ltd lowered its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 12.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,828 shares of the company’s stock after selling 4,204 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Principal Financial Group were worth $2,232,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Curio Wealth LLC bought a new stake in shares of Principal Financial Group in the 4th quarter valued at approximately $29,000. BankPlus Trust Department bought a new stake in Principal Financial Group in the fourth quarter valued at $33,000. Sugarloaf Wealth Management LLC raised its stake in Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after acquiring an additional 195 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of Principal Financial Group during the fourth quarter valued at $46,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Principal Financial Group in the 4th quarter valued at $54,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Shares of PFG stock opened at $83.06 on Monday. The firm’s 50 day moving average price is $84.15 and its two-hundred day moving average price is $83.69. 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 52-week low of $72.21 and a 52-week high of $91.98. The stock has a market cap of $18.74 billion, a PE ratio of 12.43, 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 was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.61%. Principal Financial Group’s payout ratio is 44.91%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “underweight” rating and set 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 raised their price target on Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, February 10th. BMO Capital Markets began coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective on the stock. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a research report on Thursday, January 16th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $85.92.

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.