Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 4.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,818 shares of the company’s stock after selling 407 shares during the period. Truist Financial Corp’s holdings in Principal Financial Group were worth $760,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Harbor Capital Advisors Inc. grew its holdings in Principal Financial Group by 2.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock valued at $404,000 after purchasing an additional 132 shares during the period. Leavell Investment Management Inc. lifted its position 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 valued at $208,000 after buying an additional 138 shares in the last quarter. Prime Capital Investment Advisors LLC grew its stake in Principal Financial Group by 2.3% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock valued at $546,000 after acquiring an additional 142 shares during the period. Empirical Finance LLC increased its holdings in Principal Financial Group by 1.8% in the 3rd quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock worth $676,000 after acquiring an additional 142 shares in the last quarter. Finally, Palisade Asset Management LLC raised its position in Principal Financial Group by 2.1% during the third quarter. Palisade Asset Management LLC now owns 6,946 shares of the company’s stock worth $597,000 after acquiring an additional 146 shares during the period. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Up 1.7 %

Shares of PFG opened at $89.04 on Monday. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.97. 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 has a fifty day simple moving average of $81.67 and a two-hundred day simple moving average of $82.96. The company has a market capitalization of $20.08 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 0.76 and a beta of 1.22.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given a dividend of $0.75 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) is presently 44.91%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PFG shares. Barclays lifted their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, February 7th. Piper Sandler lifted their price objective on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Wells Fargo & Company increased their target price on Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, February 19th. Morgan Stanley reaffirmed an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a research note on Thursday, January 16th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Principal Financial Group presently has an average rating of “Hold” and an average price target 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.