Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,414 shares of the company’s stock after selling 723 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Principal Financial Group were worth $1,271,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. boosted its position 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 acquiring an additional 132 shares during the last quarter. Leavell Investment Management Inc. lifted its position in Principal Financial Group by 5.4% during the fourth quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock worth $208,000 after buying an additional 138 shares in the last quarter. CENTRAL TRUST Co increased its stake 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 acquiring an additional 151 shares during the last quarter. Cidel Asset Management Inc. boosted its position in shares of Principal Financial Group by 6.3% during 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 last quarter. Finally, Hartford Funds Management Co LLC grew its holdings in shares of Principal Financial Group by 1.5% in the fourth 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. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Shares of NYSE PFG opened at $83.06 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The company has a market cap of $18.74 billion, a PE ratio of 12.43, a P/E/G ratio of 0.76 and a beta of 1.17. The stock has a fifty day moving average price of $84.15 and a 200 day moving average price of $83.63. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.98.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were issued 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 3.61%. The ex-dividend date of this dividend was Wednesday, March 12th. Principal Financial Group’s dividend payout ratio is currently 44.91%.

Analyst Ratings Changes

Several brokerages have recently commented on PFG. Morgan Stanley restated an “underweight” rating and issued a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th. Wells Fargo & Company upped their price target on Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, February 19th. BMO Capital Markets started coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price objective on the stock. Finally, Piper Sandler increased their target price on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $85.92.

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.