Farmers & Merchants Investments Inc. Trims Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Farmers & Merchants Investments Inc. trimmed its position in Principal Financial Group, Inc. (NYSE:PFG) by 8.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,137 shares of the company’s stock after selling 393 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Principal Financial Group were worth $320,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Kingsview Wealth Management LLC grew its holdings in shares of Principal Financial Group by 9.0% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,804 shares of the company’s stock worth $294,000 after purchasing an additional 314 shares during the period. Cidel Asset Management Inc. lifted its position in Principal Financial Group by 6.3% in the fourth quarter. Cidel Asset Management Inc. now owns 2,636 shares of the company’s stock valued at $204,000 after buying an additional 156 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Principal Financial Group during the fourth quarter valued at about $46,000. Lecap Asset Management Ltd. lifted its holdings in shares of Principal Financial Group by 135.6% in the 4th quarter. Lecap Asset Management Ltd. now owns 22,469 shares of the company’s stock worth $1,739,000 after acquiring an additional 12,933 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Principal Financial Group by 2.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 24,194 shares of the company’s stock worth $1,873,000 after buying an additional 489 shares during the period. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Price Performance

Shares of NYSE:PFG opened at $82.33 on Friday. The firm has a market capitalization of $18.83 billion, a P/E ratio of 11.46, a P/E/G ratio of 0.79 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.97. The company’s fifty day moving average price is $80.04 and its 200 day moving average price is $82.07.

Principal Financial Group Increases Dividend

The firm also recently announced 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 represents a $3.00 dividend on an annualized basis and a dividend yield of 3.64%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio is presently 43.71%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PFG. Royal Bank of Canada reissued a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a research report on Thursday, January 16th. Morgan Stanley reissued 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 upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price target for the company in a research note on Wednesday, December 18th. Wells Fargo & Company dropped their price objective on shares of Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $95.00 to $92.00 in a report on Tuesday, January 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $85.15.

Principal Financial Group 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.