Candriam S.C.A. Has $1.81 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

Candriam S.C.A. lessened its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 6.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,424 shares of the company’s stock after selling 1,744 shares during the period. Candriam S.C.A.’s holdings in Principal Financial Group were worth $1,813,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KBC Group NV boosted its position in shares of Principal Financial Group by 398.4% in the fourth quarter. KBC Group NV now owns 291,379 shares of the company’s stock valued at $22,555,000 after acquiring an additional 232,915 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Principal Financial Group by 85.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock valued at $40,041,000 after buying an additional 215,045 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Principal Financial Group in the fourth quarter valued at about $15,821,000. Bank of Montreal Can raised its holdings in Principal Financial Group by 41.0% during the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after purchasing an additional 146,473 shares during the last quarter. Finally, Mizuho Securities USA LLC raised its holdings in Principal Financial Group by 818.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock worth $13,112,000 after purchasing an additional 136,021 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Shares of NYSE PFG opened at $85.61 on Monday. The firm has a market capitalization of $19.31 billion, a P/E ratio of 12.82, a P/E/G ratio of 0.76 and a beta of 1.17. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The stock’s 50-day simple moving average is $82.56 and its two-hundred day simple moving average is $83.28. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.97.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be issued a $0.75 dividend. 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 3.50%. The ex-dividend date of this dividend is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio is presently 44.91%.

Wall Street Analyst Weigh In

PFG has been the subject of several research analyst reports. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Piper Sandler increased their price target on Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. BMO Capital Markets initiated coverage on Principal Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price objective on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $85.92.

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.