Ameriprise Financial Inc. Sells 20,493 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Ameriprise Financial Inc. cut its position in Principal Financial Group, Inc. (NYSE:PFG) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,802 shares of the company’s stock after selling 20,493 shares during the period. Ameriprise Financial Inc. owned 0.07% of Principal Financial Group worth $11,597,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Leavell Investment Management Inc. grew its stake in Principal Financial Group by 5.4% in the fourth quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock valued at $208,000 after acquiring an additional 138 shares during the period. CENTRAL TRUST Co lifted its holdings in shares of Principal Financial Group by 9.6% in the 4th quarter. CENTRAL TRUST Co now owns 1,730 shares of the company’s stock worth $134,000 after purchasing an additional 151 shares in the last quarter. Cidel Asset Management Inc. grew its position 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 purchasing an additional 156 shares during the period. Hartford Funds Management Co LLC grew its position in Principal Financial Group by 1.5% in 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 period. Finally, Argent Trust Co increased its stake in Principal Financial Group by 0.6% during the 4th quarter. Argent Trust Co now owns 29,345 shares of the company’s stock valued at $2,272,000 after purchasing an additional 161 shares in the last quarter. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Stock Performance

Shares of PFG opened at $81.55 on Monday. The stock has a 50 day moving average of $78.08 and a 200 day moving average of $81.08. The company has a market capitalization of $18.28 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.98. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period in the prior year, the company posted $1.65 earnings per share. As a group, sell-side analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Monday, June 2nd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.75. Principal Financial Group’s dividend payout ratio (DPR) is 65.10%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective on the stock. UBS Group lowered their target price on shares of Principal Financial Group from $93.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Keefe, Bruyette & Woods lifted their price target on Principal Financial Group from $86.00 to $87.00 and gave the company a “market perform” rating in a research note on Wednesday, May 7th. Morgan Stanley boosted their price objective on Principal Financial Group from $65.00 to $67.00 and gave the stock an “underweight” rating in a report on Tuesday, May 6th. Finally, Piper Sandler raised their target price on Principal Financial Group from $93.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Four research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $83.54.

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.