Bfsg LLC Sells 446 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Bfsg LLC trimmed its stake in Principal Financial Group, Inc. (NYSE:PFG) by 43.8% in the 4th quarter, HoldingsChannel reports. The firm owned 573 shares of the company’s stock after selling 446 shares during the period. Bfsg LLC’s holdings in Principal Financial Group were worth $44,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of PFG. Peterson Financial Group Inc. purchased a new stake in Principal Financial Group in the third quarter worth about $33,000. Truvestments Capital LLC bought a new position in shares of Principal Financial Group during the 3rd quarter valued at approximately $43,000. Sugarloaf Wealth Management LLC increased its holdings in Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after acquiring an additional 195 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Principal Financial Group during the 3rd quarter worth approximately $45,000. Finally, Golden State Wealth Management LLC purchased a new position in Principal Financial Group during the fourth quarter valued at approximately $46,000. 75.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PFG shares. Piper Sandler increased their price objective on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. BMO Capital Markets began coverage on Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price target on the stock. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Royal Bank of Canada reissued a “sector perform” rating and set a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. Finally, Wells Fargo & Company upped their price target on Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Principal Financial Group currently has a consensus rating of “Hold” and an average target price of $85.92.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $86.19 on Thursday. 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 0.26 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average is $80.43 and its 200 day moving average is $82.31. The company has a market cap of $19.71 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 0.75 and a beta of 1.22.

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 given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.48%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio is currently 43.71%.

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.