Meiji Yasuda Asset Management Co Ltd. Has $598,000 Position in Principal Financial Group, Inc. (NYSE:PFG)

Meiji Yasuda Asset Management Co Ltd. lessened its position in Principal Financial Group, Inc. (NYSE:PFG) by 78.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,729 shares of the company’s stock after selling 28,950 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Principal Financial Group were worth $598,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. grew its holdings in Principal Financial Group by 2.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock worth $404,000 after purchasing an additional 132 shares during the period. Leavell Investment Management Inc. boosted its stake in shares of Principal Financial Group by 5.4% during the 4th quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock worth $208,000 after acquiring an additional 138 shares during the period. CENTRAL TRUST Co increased its holdings in shares of Principal Financial Group by 9.6% during the 4th quarter. CENTRAL TRUST Co now owns 1,730 shares of the company’s stock worth $134,000 after acquiring an additional 151 shares during the last quarter. Cidel Asset Management Inc. raised its stake in Principal Financial Group by 6.3% in the 4th quarter. Cidel Asset Management Inc. now owns 2,636 shares of the company’s stock valued at $204,000 after acquiring an additional 156 shares during the period. Finally, Hartford Funds Management Co LLC lifted its holdings in Principal Financial Group by 1.5% during the 4th quarter. Hartford Funds Management Co LLC now owns 11,241 shares of the company’s stock valued at $870,000 after purchasing an additional 161 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research report on Wednesday, February 19th. Barclays upped their price target on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. Morgan Stanley restated an “underweight” rating and set a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Piper Sandler upped their target price 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. Finally, Keefe, Bruyette & Woods lifted their price target 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. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $85.92.

Principal Financial Group Stock Down 0.6 %

PFG stock opened at $85.08 on Friday. The company has a market cap of $19.19 billion, a PE ratio of 12.74, a price-to-earnings-growth 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. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.98. The business has a 50-day simple moving average of $84.13 and a 200 day simple moving average of $83.60.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Wednesday, March 12th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio is 44.91%.

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.