Wells Fargo & Company MN Has $14.11 Million Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Wells Fargo & Company MN cut its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 29.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 182,322 shares of the company’s stock after selling 77,149 shares during the period. Wells Fargo & Company MN owned about 0.08% of Principal Financial Group worth $14,113,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Unison Advisors LLC increased its holdings in Principal Financial Group by 0.8% in the 4th quarter. Unison Advisors LLC now owns 58,931 shares of the company’s stock worth $4,562,000 after purchasing an additional 468 shares in the last quarter. Huntington National Bank increased its stake in shares of Principal Financial Group by 25.9% in the fourth quarter. Huntington National Bank now owns 3,210 shares of the company’s stock valued at $248,000 after buying an additional 661 shares during the period. Headlands Technologies LLC raised its holdings in Principal Financial Group by 43.8% in the 4th quarter. Headlands Technologies LLC now owns 14,398 shares of the company’s stock valued at $1,115,000 after buying an additional 4,386 shares during the last quarter. OLD Mission Capital LLC acquired a new stake in Principal Financial Group during the 4th quarter worth approximately $682,000. Finally, Geode Capital Management LLC grew its holdings in Principal Financial Group by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company’s stock worth $422,074,000 after acquiring an additional 52,410 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Trading Up 1.1 %

PFG opened at $73.43 on Tuesday. The firm has a market capitalization of $16.52 billion, a PE ratio of 10.99, a P/E/G ratio of 0.76 and a beta of 1.01. 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 fifty-two week low of $68.39 and a fifty-two week high of $91.98. The company’s 50-day moving average is $82.65 and its 200 day moving average is $82.97.

Principal Financial Group Increases Dividend

The business 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. The ex-dividend date was Wednesday, March 12th. This represents a $3.00 annualized dividend and a yield of 4.09%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio is 44.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Morgan Stanley reduced their price target on Principal Financial Group from $77.00 to $65.00 and set an “underweight” rating on the stock in a research report on Thursday, April 10th. Piper Sandler increased their price target on Principal Financial Group from $93.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. UBS Group lifted their price objective on Principal Financial Group from $87.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 2nd. Finally, BMO Capital Markets began coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price for the company. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Principal Financial Group presently has a consensus rating of “Hold” and a consensus target price of $84.69.

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.