Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Rockland Trust Co.

Rockland Trust Co. cut its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 60.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,360 shares of the company’s stock after selling 5,138 shares during the period. Rockland Trust Co.’s holdings in Principal Financial Group were worth $260,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PFG. Peterson Financial Group Inc. acquired a new stake in Principal Financial Group in the third quarter worth about $33,000. Truvestments Capital LLC bought a new stake in shares of Principal Financial Group during the 3rd quarter worth about $43,000. Prospera Private Wealth LLC bought a new stake in Principal Financial Group during the third quarter worth approximately $45,000. Sugarloaf Wealth Management LLC boosted its stake in Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after purchasing an additional 195 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Principal Financial Group in the 3rd quarter worth $50,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Up 1.6 %

Shares of NYSE PFG opened at $80.08 on Thursday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.97. The business has a 50-day moving average price of $81.64 and a two-hundred day moving average price of $82.16. The firm has a market capitalization of $18.32 billion, a PE ratio of -88.98, a PEG ratio of 0.92 and a beta of 1.22.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same quarter in the prior year, the business posted $1.72 earnings per share. As a group, analysts predict that Principal Financial Group, Inc. will post 7.03 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.73 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a dividend yield of 3.65%. The ex-dividend date was Monday, December 2nd. Principal Financial Group’s payout ratio is currently -324.44%.

Analysts Set New Price Targets

PFG has been the subject of several research reports. Royal Bank of Canada raised their target price on Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 19th. Morgan Stanley restated an “underweight” rating and issued a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Piper Sandler upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price objective for the company in a research report on Wednesday, December 18th. Barclays lifted their target price on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company decreased their price target on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a research report on Tuesday. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Principal Financial Group currently has an average rating of “Hold” and an average price target of $84.25.

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.