Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC lessened its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 58.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 726 shares of the company’s stock after selling 1,031 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Principal Financial Group were worth $56,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. acquired a new position in Principal Financial Group during the 3rd quarter worth $33,000. Truvestments Capital LLC acquired a new position in Principal Financial Group during the 3rd quarter worth $43,000. Sugarloaf Wealth Management LLC boosted its position in Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after acquiring an additional 195 shares during the period. Prospera Private Wealth LLC acquired a new position in Principal Financial Group during the 3rd quarter worth $45,000. Finally, Golden State Wealth Management LLC acquired a new position in Principal Financial Group during the 4th quarter worth $46,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PFG. Piper Sandler boosted their price target on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Barclays boosted their price objective on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, February 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a research note on Thursday, January 16th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Four 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 stock. According to MarketBeat, Principal Financial Group currently has an average rating of “Hold” and a consensus target price of $85.54.

Principal Financial Group Stock Up 1.1 %

Shares of Principal Financial Group stock opened at $86.60 on Wednesday. The stock’s fifty day moving average is $80.19 and its 200-day moving average is $82.20. The firm has a market capitalization of $19.81 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 0.79 and a beta of 1.22. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.46%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. Principal Financial Group’s payout ratio is presently 43.71%.

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.