Securian Asset Management Inc. Lowers Position in Principal Financial Group, Inc. (NYSE:PFG)

Securian Asset Management Inc. cut its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,243 shares of the company’s stock after selling 540 shares during the period. Securian Asset Management Inc.’s holdings in Principal Financial Group were worth $870,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Peterson Financial Group Inc. purchased a new position in shares of Principal Financial Group in the third quarter valued at about $33,000. BankPlus Trust Department purchased a new position in shares of Principal Financial Group in the fourth quarter valued at about $33,000. Truvestments Capital LLC purchased a new position in shares of Principal Financial Group in the third quarter valued at about $43,000. Prospera Private Wealth LLC purchased a new position in shares of Principal Financial Group in the third quarter valued at about $45,000. Finally, Sugarloaf Wealth Management LLC lifted its position in shares of Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after acquiring an additional 195 shares in the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Up 2.8 %

NYSE PFG opened at $82.78 on Friday. 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 company has a fifty day moving average of $83.06 and a two-hundred day moving average of $83.36. The firm has a market capitalization of $18.67 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week 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. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.62%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. Principal Financial Group’s payout ratio is presently 44.91%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PFG. Piper Sandler boosted their price objective on Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Wells Fargo & Company lifted their target price on Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a report on Wednesday, February 19th. Morgan Stanley reaffirmed an “underweight” rating and issued a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Keefe, Bruyette & Woods lifted their target price on Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. Finally, Barclays lifted their target price on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, February 7th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.