Pitcairn Co. Sells 233 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Pitcairn Co. reduced its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,728 shares of the company’s stock after selling 233 shares during the quarter. Pitcairn Co.’s holdings in Principal Financial Group were worth $211,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Curio Wealth LLC bought a new position in Principal Financial Group in the 4th quarter valued at about $29,000. BankPlus Trust Department acquired a new stake in shares of Principal Financial Group during the 4th quarter worth approximately $33,000. Sugarloaf Wealth Management LLC increased its stake in Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after acquiring an additional 195 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Principal Financial Group during the fourth quarter valued at approximately $46,000. Finally, Whipplewood Advisors LLC bought a new stake in Principal Financial Group during the fourth quarter worth $54,000. Institutional investors own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wells Fargo & Company lifted their target price on Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research report on Wednesday, February 19th. Piper Sandler upped their price objective on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 12th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $91.00 price target on shares of Principal Financial Group in a research note on Thursday, January 16th. Finally, BMO Capital Markets initiated coverage on Principal Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price objective on the stock. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $86.57.

Principal Financial Group Stock Performance

NYSE:PFG opened at $72.94 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.98. The company has a 50 day simple moving average of $84.12 and a two-hundred day simple moving average of $83.67. The company has a market capitalization of $16.45 billion, a PE ratio of 10.92, a P/E/G ratio of 0.76 and a beta of 1.01.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were given a dividend of $0.75 per share. The ex-dividend date was Wednesday, March 12th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 4.11%. Principal Financial Group’s dividend payout ratio is 44.91%.

About Principal Financial Group

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.