Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Transamerica Financial Advisors Inc.

Transamerica Financial Advisors Inc. lowered its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 4.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,330 shares of the company’s stock after selling 160 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Principal Financial Group were worth $258,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. raised its holdings in shares of Principal Financial Group by 2.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock worth $404,000 after purchasing an additional 132 shares in the last quarter. Leavell Investment Management Inc. grew its position 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 worth $208,000 after buying an additional 138 shares during the last quarter. CENTRAL TRUST Co increased its holdings in shares of Principal Financial Group by 9.6% in the fourth quarter. CENTRAL TRUST Co now owns 1,730 shares of the company’s stock valued at $134,000 after buying an additional 151 shares in the last quarter. Cidel Asset Management Inc. lifted 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 boosted its stake in shares of Principal Financial Group by 1.5% during the 4th quarter. Hartford Funds Management Co LLC now owns 11,241 shares of the company’s stock worth $870,000 after acquiring an additional 161 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Price Performance

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. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.98. The company has a fifty day moving average price of $84.15 and a 200 day moving average price of $83.66. The stock has a market cap of $18.74 billion, a P/E ratio of 12.43, a PEG ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.61%. The ex-dividend date was Wednesday, March 12th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio (DPR) is presently 44.91%.

Wall Street Analyst Weigh In

PFG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. BMO Capital Markets began coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price objective for the company. Barclays raised their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, February 7th. Morgan Stanley restated an “underweight” rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Finally, Piper Sandler raised 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. 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.