Ieq Capital LLC Lowers Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Ieq Capital LLC trimmed its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 52.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,464 shares of the company’s stock after selling 4,896 shares during the quarter. Ieq Capital LLC’s holdings in Principal Financial Group were worth $346,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Metis Global Partners LLC grew its holdings in Principal Financial Group by 5.0% during the 3rd quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock valued at $965,000 after buying an additional 533 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Principal Financial Group by 66.2% in the third quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock worth $2,137,000 after buying an additional 9,933 shares during the period. Legacy Financial Group LLC bought a new stake in shares of Principal Financial Group during the fourth quarter worth $771,000. Columbus Macro LLC lifted its holdings in Principal Financial Group by 46.7% during the 4th quarter. Columbus Macro LLC now owns 25,653 shares of the company’s stock valued at $1,986,000 after buying an additional 8,169 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Principal Financial Group by 358.7% in the third quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock valued at $1,403,000 after purchasing an additional 12,768 shares during the period. 75.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PFG has been the subject of a number of research reports. Keefe, Bruyette & Woods upped their price objective 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. Morgan Stanley restated an “underweight” rating and set a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Piper Sandler upped their price target on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $91.00 target price on shares of Principal Financial Group in a research report on Thursday, January 16th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Principal Financial Group presently has an average rating of “Hold” and a consensus target price of $85.92.

Principal Financial Group Price Performance

Shares of NYSE PFG opened at $87.53 on Friday. The firm has a market cap of $19.74 billion, a PE ratio of 13.10, a PEG ratio of 0.76 and a beta of 1.22. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.97. The firm has a fifty day moving average of $81.44 and a 200 day moving average of $82.75. 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 Increases Dividend

The company 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 $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Wednesday, March 12th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio (DPR) is 44.91%.

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.