Carret Asset Management LLC Has $544,000 Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Carret Asset Management LLC decreased its position in Principal Financial Group, Inc. (NYSE:PFG) by 1.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,023 shares of the company’s stock after selling 133 shares during the period. Carret Asset Management LLC’s holdings in Principal Financial Group were worth $544,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PFG. Amundi grew its holdings in shares of Principal Financial Group by 24.1% in the 4th quarter. Amundi now owns 1,359,779 shares of the company’s stock valued at $106,511,000 after buying an additional 264,383 shares during the period. KBC Group NV boosted its stake in Principal Financial Group by 398.4% in the 4th quarter. KBC Group NV now owns 291,379 shares of the company’s stock worth $22,555,000 after purchasing an additional 232,915 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Principal Financial Group by 85.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock worth $40,041,000 after purchasing an additional 215,045 shares during the period. Raymond James Financial Inc. acquired a new position in Principal Financial Group in the 4th quarter worth $15,821,000. Finally, Bank of Montreal Can boosted its stake in Principal Financial Group by 41.0% in the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after purchasing an additional 146,473 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Up 2.8 %

Shares of PFG stock opened at $82.78 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The firm’s 50-day moving average is $83.06 and its 200-day moving average is $83.34. The stock has a market cap of $18.67 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.97.

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 issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.62%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio is presently 44.91%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PFG. Morgan Stanley reaffirmed an “underweight” rating and issued a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Wells Fargo & Company upped their target price on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. Barclays upped their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, February 7th. Finally, Piper Sandler increased 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 analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.